It’s Never too Early to Plan for Your Future

Michael PeggsMichael Peggs is the founder of Marccx Media, a digital marketing agency specializing in SEO and Content Marketing. Before Marcxx, Peggs worked at Google in business development, forming digital media and advertising partnerships. He is also a blogger and podcaster, hosting the iTunes Top 10 New & Noteworthy podcast You University – The Personal Branding Podcast.

No matter what age you are, there are steps you can take to help you secure your financial security. According to New York Life, your twenties is a great time to start thinking about retirement because time is on your side, and affirms that the right age to start saving is whenever you start earning money for yourself; whether it’s being paid for chores at the age of five, or entering the workforce at 25. It’s never too early to plan for your future. Saving money is a wise financial practice at any age, and is often a lot easier when you don’t have children depending on you.

So how do you go about planning for a future that seems so far away? How do you think about retirement when you’ve only just finished college? Start by asking yourself some questions:

  • What are your plans for the future?
  • Do you have any plans in place?
  • Where do you see yourself in thirty years?
  • What can you start doing today to make sure these become a reality?

While it’s true that financial security and retirement plans are often the last thing you want to think about when your whole life is ahead of you, working towards gaining financial security and control of your personal finance issues doesn’t have to be all about self-deprivation and saving every dime.

Think about how much money you spend in an average day. Do you write down everything you buy, or do you allow yourself to go along with any impulse purchase you feel like? When your bank statement comes in at the end of the month do you have a pretty good idea of what you will find on it or no clue whatsoever? If you’re veering towards the latter, then you should think about writing a shopping list before going to the supermarket and tracking your spending in an excel sheet or with online tools, such as Mint. You’ll probably be surprised how much money you could save by cutting out on small things, like your daily coffee or newspaper.

Money Management - Read MoreEnsure you know what credit or debit cards you are using and check the terms and conditions regularly, as the interest rates often change suddenly. It’s worth doing a little research to make sure that you’re getting the best deal. You can also become price savvy when it comes to buying many items; learn to use price comparison websites before you buy, such as PriceGrabber and Shopzilla that can help you get the best deal.

Get smart when it comes to choosing your transport. If your workplace is far away from where you live, the chances are you’re spending a large amount of your budget on fueling your car every month. Think about considering other options, such as public transport, or riding a bike to work. And if that’s not possible, then you could start a carpooling scheme with colleagues at work.

While it’s true that you can’t plan for every eventuality, learning to save money where you can and having an eye on your financial future is attainable at any age. Beyond making contributions to a work pension scheme or investing in stocks, start incorporating these financially smart attitudes into your life today for a more secure future tomorrow.

This post was sponsored by Michael Peggs of Marccx Media.

Blogger-in-Chief here at RetirementSavvy and author of Sin City Greed, Cream City Hustle and RENDEZVOUS WITH RETIREMENT: A Guide to Getting Fiscally Fit.


  1. Right on James, its never to late. I opened my 1st IRA at 19. It just takes extra dedication to allocate a portion of any income for future savings. Good post.

    • Opening an IRA at 19 is certainly a great start. Good stuff, my friend.

  2. Even diverting a relatively small portion of your income towards a retirement account can have a big impact. I started with only ~6% going towards my 401k and looking back 5 years later I’m so glad I did.

    • Exactly. The key is to start early as possible and make compounding work for you.

  3. I think it is so important to plan for the future, even when you don’t know what it holds. I likely have 4+ decades until I fully retire from paid work, but that doesn’t mean I can completely neglect saving for the future. We have a lot we hope to accomplish in between now and 70, and the best way to accomplish it is to save and invest, early and often.

    • ” … the best way to accomplish it is to save and invest, early and often” No doubt. If an individual can develop good habits at an early age they will realize significant dividends as they cruise – vice careen if they don’t plan – toward retirement.

  4. It is certainly never to early to start planning or saving for your future. I think the trick for 20 somethings is that for them it seems so far away and using a word like retirement will just fall flat. Talking about accumulating wealth or financial independence might be a better approach and spark a bigger interest.

    • No doubt that the word ‘retirement’ should be used judiciously when speaking to 20-somethings about money management and financial planning. Most have other financial matters (e.g. student loans, buying a home, buying a car, etc.) they are giving more thought to. However, it they’re wise, retirement will lurk somewhere in their subconscious and other actions they take with their money will positively impact their ability to retire at a reasonable age.

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