Retirement may seem like a distant dream, but it’s important to start planning and saving for it as early as possible. With the average life expectancy increasing, it’s crucial to have a solid financial plan in place to ensure a comfortable retirement. Here are some tips on how to save and invest for your pension.

First and foremost, start as early as you can. The earlier you start saving, the more time your money has to grow and compound. Even small contributions can make a big difference in the long run. Consider setting up automatic contributions from your paycheck or setting aside a certain percentage of your income each month. This will ensure that your retirement savings are a priority.

Next, make the most of your employer’s retirement plan. Many companies offer a 401(k) or similar plan that allows you to contribute a portion of your income, often with a matching contribution from your employer. Take advantage of this benefit, as it’s essentially free money towards your retirement savings.

Diversify your investments. It’s important to not put all of your eggs in one basket when it comes to your retirement funds. Consider investing in a mix of stocks, bonds, and other assets to minimize risk and potentially increase returns. It’s also important to regularly review and adjust your investments as you get closer to retirement.