Starting Your Retirement Savings Late Doesn't Mean You're Screwed

The uncomfortable corrolary to that is that if you start saving late, youre screwed.

And yes, its harder, but your life doesnt have to be ruined.

), many will tell you that youre way behind.

And its true it wouldve been nicer to start saving in your 20s.

That doesnt mean youre screwed.

Im here now, and Ive socked away $15000 in a single year.

There are about 30 years until I reach retirement age.

That is plenty of time.

Are you 45 with nothing saved?

Youll also be fine.

It will be fine.

Saving $15,000 every year probably isnt possible for most 20-somethings that are just starting out.

At 35 or later, however, it could be much more reasonable.

However, its not always as doom-and-gloomy as financial experts make it seem.