Just because you’re living on $40,000 a year doesn’t mean you can’t save for retirement.
Consider this: If you save $1 a day for the next 30 years, you’ll have saved a total of $40,000. That’s the same as switching your daily latte from a venti to a grande or choosing to eat in instead of out once a month. If you can’t live without your caffeine fix, stash away $1 a day in a jar and deposit it at the end of each month. You’ll never even know you missed it.
Better yet, contribute to your 401(k) — especially if your employer matches your contribution. Otherwise, you’ll be missing out on what is essentially free money.
Saving might not be glamorous, but it is smart. And being smart is sexy.
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