Dude, I know. You’re young. Retirement funds are the furthest thing from your mind. But retirement should always be on the brain as long as you’re currently working. Why? Well, the glorified Ponzi scheme that is Social Security is drying up pretty quickly, the cost of living is rising and people are living longer than ever. That gets expensive.
I know saving can be a pain in the ass and pretty lame. (Really! If it were up to me, I’d just die young with a lot of cupcake dresses, but my immune system is too strong and my bones are too durable.) Here are a few ways to trick yourself into saving wuthout feeling like you’re sacrificing!
If your company has a 401K, for the love of Chris Hemsworth, get in on that.
If you make monthly contributions to a 401K, your company may match it. That’s like getting a raise without even doing anything! What’s more, you won’t miss it–it’s taken out of the top of your paycheck, so you won’t even notice it’s missing. (Unless, of course, you contribute more than you can reasonably afford to live, in which case, get your behind to a calculator stat.)
Set up an automatic checking account draft.
If you have a couple hundred bucks–or even just $50–moved into a savings account or investments every month, week, whatever. Since it’s going there automatically, again, you probably won’t miss it. And should you-know-what hit the fan, you’ll have some cash to cushion your fall.
Try a MyRA.
If, like most young people, you’re banking under $129,000 a year, this is a safe bet if an actual IRA scares you. You can contribute up to $5,500 a year, and unless you withdraw money before retirement, you won’t have to worry about getting taxed on this.