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Saving for retirement before age 40 could make you miserable


Saving for retirement before age 40 could make you miserable
hhoffower@businessinsider.com (Hillary Hoffower)
© Provided by Business Insider
Saving for retirement early on in one s career isn t always optimal, a new study finds. FG Trade/Getty Images
Young adults don t need to start saving for retirement until their 40s, a new NBER paper finds.
That s if you re college-educated, expect steep income growth, and value other things over money.
The paper based its findings on total life satisfaction rather than savings.
Young adults could be making a big mistake in saving for retirement early.
Those short on cash but anticipating significant earnings growth down the road don t need to save for retirement early on in their careers, states a new working paper (meaning it hasn t yet been peer-reviewed) from the National Bureau of Economic Research (NBER). The paper looked at whether automatic enrollment with employer-sponsored 401(k ....

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