How Far Will $1,000 Go When Saving for Retirement?
It's a common misconception that you need to have a lot of money to start saving for retirement. In fact, among workers who have no retirement savings, the primary reason they aren't saving is they don't think they're earning enough money to do so, a survey from GOBankingRates found.
That's an understandable sentiment, considering retirement is becoming more and more expensive. If you know you need to save hundreds of thousands of dollars (or possibly more than $1 million) for retirement, it can seem pointless to stash anything away now if you're struggling to save.
However, small investments now can result in a robust nest egg later. Even if you're starting with as little as $1,000 to invest, you can achieve a significant amount in savings if you have a financial strategy in place.
Source Fool.com
