^{Starting Out} How to start saving for your retirement

Investing in your 20s is the best thing you can do for your future. This is especially true for young adults who are just beginning their financial journey. Starting early can set a solid foundation for long-term financial security. Here is why and how you can get started.

1. Steady income and lower expenses
   Most people in their 20s are beginning their careers with a steady salary and minimal debt. Monthly expenses are often lower, especially if you do not have a family, mortgage, or other significant financial responsibilities.
2. Compound growth
   The earlier you start investing; the more time your money has to grow. Compound interest means that the returns on your investments will also earn returns, leading to exponential growth over time.

*For illustrative purposes only.

Steps to start investing

• Step 1: Open a retirement account
  Start by opening a retirement account. This can be a dedicated retirement savings plan offered by your employer or a personal retirement account.
• Step 2: Choose the right investment
  Select investments that align with your goals. This might include stocks, bonds, mutual funds, or other investment vehicles. It is essential to choose options that match your risk tolerance and financial objectives
• Step 3: Automate your contributions
  Set up automatic transfers from your salary to your retirement account. Automating your savings ensures consistency and helps you build your investment without having to think about it every month.
• Step 4: Speak to a financial advisor
  Consulting with a financial advisor can provide personalised guidance. Advisors can help you create a strategy tailored to your needs, monitor your progress, and adjust your plan as necessary.