The Best Retirement Advice From Dave Ramsey, Charles Payne & More

Richard Coffin, host of The Plain Bagel YouTube channel, said that he wishes all of his viewers would understand the importance of saving and investing for retirement, and starting early.

“Most people wait until later on in their career to start planning, with some, unfortunately, realizing too late that they won’t be able to fund the retirement they were hoping for,” he said. “Starting early is not only a great way to establish a productive habit, but it gives you a longer time horizon over which you can compound your savings for building that nest egg.

“This greatly reduces the overall burden of saving for retirement,” he continued. “For a given savings goal, regularly contributing to a 6% returning-investment over a 40-year period, compared to 20 years, cuts the total amount of money you’ll need to put aside by more than half.”