There are many mistakes that people make when they’re young and even when people are older when talking about the subject of saving money. Saving is one of those things that you will always have to do when looking to gain respect from society and personal affairs. When you get to that point where you start to think about saving money you should already have some experience in the job life. If you have not had a first job, that is a great first step to take, getting that experiance and challenges of saving money. There are a few things to take notice of to make sure your saving is a success.
One of these things is investing in your 401k and then forgetting about it. To not stumble into this is to evaluate it on a six month basis, put a reminder on your phone or something to help you keep track in giving that a occasional check up.
Another thing to not do is expect that your healthcare during retirement will be cheap. This most of the time is not the case, many times it will go well above than that what you expected. Sometimes even exceeding 100k. Start looking into it now and start saving when that time comes when you get older and really start to need it.
When cashing out on stocks is something that you need to do eventually right now is not the time, having cash now may sound good but waiting and being patient will make you so much more in the future. If you do cash out now its 10% on tax for an early transaction taking thousands of dollars right away.
So many times in life you tell yourself you can start saving next year or whatever, but the trick is you need to start before you make the idea that you will do it next time. Start now because if you do, you will have thousands saved after a few years, rather than waiting those years and then having nothing.