You’ll make many decisions in your twenties and thirties, and you’ll likely be inclined to reserve decisions about retirement for the future-you to deal with one day. It’s natural to think saving for retirement can wait. But a survey we conducted among Eder Retirement Plan retirees resulted in nearly every respondent saying they wished they had known the earlier you start saving, the better off you’ll be. In fact, an overwhelming number of people told us they would have started much sooner had they known.

We want you to retire regret-free. Here’s what you need to know.

Small steps now = Big impact later

Say you start contributing to a retirement account at age 27 and you retire at age 62. With an average salary of $60,000, contributing just 6% of your pay with an 8% investment return, you’d enter retirement with about $620,340.

Now consider another scenario: If you work for an employer who has a matching contribution, your retirement balance is higher. For example, consider someone who contributes 15% each paycheck, using the same assumptions. That early start could grow to over $1 Million dollars by the time you reach 62.

That’s the power of time, consistency, and compound growth. And as life expectancy increases — with many people living well into their mid-to-late 80s — starting early means you’ll be better prepared to enjoy those future years without financial stress. No matter your age or income, small steps now will set you up for a healthy retirement in the future.

Where do you start?

Beginning a long-term savings strategy in your twenties or thirties can feel counterintuitive, but it’s one of the most powerful choices you can make. Here are practical ways to take those first steps:

1. Set yourself up now. Don’t wait.

  • Observe people in retirement and take note of what appeals to you.
  • Create a budget so you can see where your money goes and identify places to save.
  • Live within your means and work toward paying off outstanding bills, if applicable.
  • Avoid high-interest debt and don’t carry credit card balances.
  • Use credit wisely and pay more than the required minimum if you have a balance.
  • Establish a $1,000 emergency fund and strive to build that into a three-to-six-month salary savings, so unexpected expenses don’t delay your plans.

2. Save consistently: You don’t have to save a lot; you just need to start and keep saving.

  • If your employer offers a retirement plan, find out how to enroll and what contribution options are available to you.
  • Determine an amount you can contribute regularly each pay period, even if it is small, and periodically review your account to confirm your contributions are being deposited as expected.

3. Use your benefits wisely: Whether you're in your first job or planning your next move, your benefits matter.

  • If your employer offers a matching contribution, take it! It’s free money.
  • Take advantage of financial planning resources that may be available through your employer or retirement plan.
  • Diversify your retirement funds in multiple investment offerings for greater stability over time.
  • If you have retirement savings with a former employer, review your options for managing those funds. Some people find it easier to keep retirement savings consolidated, while others prefer to maintain separate accounts based on their individual needs.

4. Protect what you’re building: Think long-term.

  • Don’t rely heavily on Social Security; it’s not enough to support a full retirement.
  • Review your life insurance needs early in your career.
  • Consider long-term care insurance to protect savings later in life.
  • Stay informed about financial trends so you’re always making wise decisions.

5. Keep checking in: Life changes, and your financial habits should evolve with it.

  • Maintain a relationship with a financial professional and consider their guidance as your circumstances and goals change.
  • Reevaluate your savings goals regularly and adjust your strategy as your life and career grow.

As you settle into your first full-time job, enjoy the freedom of a steady income, buy your first car, or perhaps build a home and family, one of the best gifts you can give the future-you is to start saving now, no matter how small.

Growing your savings is important — but it’s not everything

As essential as it is to build a solid financial foundation, you should use this time to discover who you are meant to be. Two things that matter just as much as your financial future:

  1. Finding your place in the world — in relationships, community, and the unique network of people who shape your life.
  1. Discovering your purpose— the work God designed you for by using the unique combination of gifting and talent you have to contribute to a purpose that is bigger than you.

Money supports these things, but it doesn’t replace them. A well-planned retirement is about giving your future self the financial freedom to do what you enjoy, make the world better, and live God’s purpose for your life.