{"id":21408,"date":"2021-08-26T18:06:31","date_gmt":"2021-08-26T22:06:31","guid":{"rendered":"https:\/\/www.dailypay.com\/?p=21408"},"modified":"2022-01-26T11:23:55","modified_gmt":"2022-01-26T16:23:55","slug":"save-for-retirement-now","status":"publish","type":"post","link":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/","title":{"rendered":"The Time to Save for Retirement is Now"},"content":{"rendered":"\n

Even though retirement may seem super far away, it\u2019s easy to start saving for it now to prevent it from catching up with you. It\u2019s important to start saving for retirement as soon as you can. Set up a retirement account if you don\u2019t have one already, whether that\u2019s through your job or just a personal account (there are many different types of retirement accounts<\/a>).\u00a0<\/p>\n\n\n\n

Here are some tips and tricks to help make saving for retirement easy:<\/p>\n\n\n\n

Contribute as much as (or more than) your employer match<\/strong><\/h2><\/div>\n\n\n\n

Some employers will match a portion of what you contribute to your retirement account. If that\u2019s the case for you, make sure you are contributing up to at least that contribution match percentage\/amount.\u00a0\u00a0<\/p>\n\n\n\n

Make it part of your budget<\/strong><\/h2><\/div>\n\n\n\n

However you budget<\/a> every month, make sure that saving for retirement is included in that budget. Some people like to set up automatic savings<\/a> toward their retirement funds, making the retirement part of your budget straightforward and predictable. By setting up automatic savings, you won\u2019t even have to remember to make a contribution!<\/p>\n\n\n\n

Compounding, compounding, compounding<\/strong><\/h2><\/div>\n\n\n\n

The good thing about most retirement accounts is that they have compounding interest. That means that the more money you put into the account, the more your money will grow. Traditional IRAs and 401(k) plans allow your money to grow tax-deferred, meaning you don’t pay tax on it until you withdraw it in retirement, when your income is expected to be lower. Other accounts, like Roth IRAs, allow you to pay the tax now instead later. Regardless of the tax treatment your account has, the more money you put into it, the more it will grow.\u00a0<\/p>\n\n\n\n

Have a realistic goal<\/strong><\/h2><\/div>\n\n\n\n

When thinking about saving for retirement, think realistically about how much you can save per pay period (or in whatever time period you budget). While it is important to save, especially depending on how you want to retire, it\u2019s not the only important thing to save for. <\/p>\n\n\n\n

Expect the unexpected<\/strong><\/h2><\/div>\n\n\n\n

While you can always set up automatic savings to go into your retirement accounts, there may be times when you need to change how much you save. Unexpected expenses may arise and finances may need to be adjusted. That\u2019s why it\u2019s also important to have an emergency fund<\/a> so that you don\u2019t have to tap into your retirement accounts when emergencies arise.\u00a0<\/p>\n\n\n\n

<\/div>\n\n\n\n

How DailyPay can help<\/strong><\/h2><\/div>\n\n\n\n

If you are employed by a company that offers DailyPay, you can use DailyPay\u2019s PAY<\/a> and SAVE<\/a> features to help you save for the future and allocate your resources properly. <\/p>\n\n\n\n

PAY allows you to transfer any part of your earned pay before your payday to a bank account, pay card or debit card of your choice. This can help you meet bill deadlines and avoid late fees. <\/p>\n\n\n\n

DailyPay\u2019s SAVE feature lets you move any portion of your earned and unpaid pay into a savings account of your choice. This feature will help you build a savings safety net and develop good financial habits, with no cost to you. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Looking for more financial well-being tips? Check out other financial well-being resources.<\/a><\/h3><\/div>\n","protected":false},"excerpt":{"rendered":"

Even though retirement may seem super far away, it\u2019s easy to start saving for it now to prevent it from catching up with you. It\u2019s important to start saving for retirement as soon as you can. Set up a retirement account if you don\u2019t have one already, whether that\u2019s through your job or just aRead More<\/a><\/p>\n","protected":false},"author":32,"featured_media":21430,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[145],"tags":[566,391],"class_list":["post-21408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-literacy","tag-budgeting","tag-saving-money"],"acf":[],"yoast_head":"\nThe Time to Save for Retirement is Now - DailyPay<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Time to Save for Retirement is Now\" \/>\n<meta property=\"og:description\" content=\"Even though retirement may seem super far away, it\u2019s easy to start saving for it now to prevent it from catching up with you. It\u2019s important to start saving for retirement as soon as you can. Set up a retirement account if you don\u2019t have one already, whether that\u2019s through your job or just aRead More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/\" \/>\n<meta property=\"og:site_name\" content=\"DailyPay\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/dailypay\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/trydailypay\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-26T22:06:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-26T16:23:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.dailypay.com\/wp-content\/uploads\/save-for-retirement-now.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"DailyPay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@dailypay\" \/>\n<meta name=\"twitter:site\" content=\"@dailypay\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"DailyPay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The Time to Save for Retirement is Now - DailyPay","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/","og_locale":"en_US","og_type":"article","og_title":"The Time to Save for Retirement is Now","og_description":"Even though retirement may seem super far away, it\u2019s easy to start saving for it now to prevent it from catching up with you. It\u2019s important to start saving for retirement as soon as you can. Set up a retirement account if you don\u2019t have one already, whether that\u2019s through your job or just aRead More","og_url":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/","og_site_name":"DailyPay","article_publisher":"https:\/\/www.facebook.com\/dailypay","article_author":"https:\/\/www.facebook.com\/trydailypay\/","article_published_time":"2021-08-26T22:06:31+00:00","article_modified_time":"2022-01-26T16:23:55+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.dailypay.com\/wp-content\/uploads\/save-for-retirement-now.png","type":"image\/png"}],"author":"DailyPay","twitter_card":"summary_large_image","twitter_creator":"@dailypay","twitter_site":"@dailypay","twitter_misc":{"Written by":"DailyPay","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/#article","isPartOf":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/"},"author":{"name":"DailyPay","@id":"https:\/\/www.dailypay.com\/#\/schema\/person\/0dc5e72435b747402bdc50b62513acd9"},"headline":"The Time to Save for Retirement is Now","datePublished":"2021-08-26T22:06:31+00:00","dateModified":"2022-01-26T16:23:55+00:00","mainEntityOfPage":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/"},"wordCount":545,"publisher":{"@id":"https:\/\/www.dailypay.com\/#organization"},"image":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/#primaryimage"},"thumbnailUrl":"https:\/\/www.dailypay.com\/wp-content\/uploads\/save-for-retirement-now.png","keywords":["Budgeting","saving money"],"articleSection":["Financial Literacy"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/","url":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/","name":"The Time to Save for Retirement is Now - DailyPay","isPartOf":{"@id":"https:\/\/www.dailypay.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/#primaryimage"},"image":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/#primaryimage"},"thumbnailUrl":"https:\/\/www.dailypay.com\/wp-content\/uploads\/save-for-retirement-now.png","datePublished":"2021-08-26T22:06:31+00:00","dateModified":"2022-01-26T16:23:55+00:00","breadcrumb":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/#primaryimage","url":"https:\/\/www.dailypay.com\/wp-content\/uploads\/save-for-retirement-now.png","contentUrl":"https:\/\/www.dailypay.com\/wp-content\/uploads\/save-for-retirement-now.png","width":1200,"height":628,"caption":"An older man with a long white beard and hair, wearing a light blue patterned shirt with blue suspenders, smiles confidently with his arms crossed in front of a bright blue background. The text to the left of him reads, \"The Time to Save for Retirement is Now."},{"@type":"BreadcrumbList","@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/save-for-retirement-now\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Resource Center","item":"https:\/\/www.dailypay.com\/resource-center\/"},{"@type":"ListItem","position":2,"name":"Financial Literacy","item":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/"},{"@type":"ListItem","position":3,"name":"The Time to Save for Retirement is Now"}]},{"@type":"WebSite","@id":"https:\/\/www.dailypay.com\/#website","url":"https:\/\/www.dailypay.com\/","name":"DailyPay","description":"Earned Wage Access Provider - DailyPay","publisher":{"@id":"https:\/\/www.dailypay.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.dailypay.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.dailypay.com\/#organization","name":"DailyPay","url":"https:\/\/www.dailypay.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.dailypay.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.dailypay.com\/wp-content\/uploads\/dailypay-logo.svg","contentUrl":"https:\/\/www.dailypay.com\/wp-content\/uploads\/dailypay-logo.svg","width":157,"height":39,"caption":"DailyPay"},"image":{"@id":"https:\/\/www.dailypay.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/dailypay","https:\/\/x.com\/dailypay","https:\/\/www.instagram.com\/trydailypay\/","https:\/\/www.linkedin.com\/company\/dailypay-inc\/","https:\/\/www.youtube.com\/channel\/UCOHcuqx2v4Yqpm1bdt1AMWA"]},{"@type":"Person","@id":"https:\/\/www.dailypay.com\/#\/schema\/person\/0dc5e72435b747402bdc50b62513acd9","name":"DailyPay","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/e42f21a99897a3d3491b8b93da6117f50707d53af06c27b3db445d48b6477a8a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/e42f21a99897a3d3491b8b93da6117f50707d53af06c27b3db445d48b6477a8a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e42f21a99897a3d3491b8b93da6117f50707d53af06c27b3db445d48b6477a8a?s=96&d=mm&r=g","caption":"DailyPay"},"description":"DailyPay, the leading provider of the daily pay benefit \u2014 a benefit offered through employers that allow employees to receive instant access to their earned income, works across a wide range of industries, including quick service restaurants, hospitality, retail, healthcare and other services. One in six Americans now has access to DailyPay through our trusted payroll service partners, including ADP, Paycor, SmartLinx, Netspend and other HR and payroll technology providers, who offer the daily pay product to their customers. With DailyPay, employees can pay bills on time and avoid late fees, helping them to reach their financial goals. Companies have reported that DailyPay increases employee engagement and retention and helps to support recruitment. DailyPay is backed by leading venture capital firms and world-class strategic investors. The company is headquartered in New York.","sameAs":["https:\/\/www.facebook.com\/trydailypay\/","https:\/\/www.linkedin.com\/company\/dailypay-inc\/","https:\/\/x.com\/dailypay"],"url":"https:\/\/www.dailypay.com\/author\/dailypay\/"}]}},"_links":{"self":[{"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/posts\/21408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/comments?post=21408"}],"version-history":[{"count":0,"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/posts\/21408\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/media\/21430"}],"wp:attachment":[{"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/media?parent=21408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/categories?post=21408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/tags?post=21408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}