Question

Why might some 20-year-olds have difficulty investing $360 per month for retirement?

Answer 1

As one myself, It’s terribly hard because I need to pay for my college which I invest 3k every 2 and a half months in, plus my rent which luckily I have roommates that help with that. Plus with the lack of time I rarely get a chance to cook for myself so I end up ordering in ( i spend probably 250$ a month on junk food) and with a pandemic going on it is extremely hard to find a job which I can balnce with my school life

Answer 2

It would be difficult for some 20-year olds to invest $360 per month for retirement because they don't have an active source income

What is retirement?

Retirement can be defined as a period in the life of an employee when he or she is required by law to leave (withdraw) his or her job, having reached a certain age or successfully completed the number of years stipulated for employment.

Generally, it would be difficult for some 20-year olds to invest $360 per month for retirement because they do not have a stable (active) source income at this age. Also, they are more likely to spend on their basic needs rather than saving for retirement.

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