5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

No. 1: Not starting planning early enough

Probably the most common mistakes people make is to believe they have more than enough time to start saving up money. But the truth is that you can never start too early. Even if you don’t file for a particular pension or retirement fund in your 20s, you can still open a savings account. The more time your money has to accumulate interest, the more you will have to gain in the long run. One of the smartest people in the world, Albert Einstein, said the following about compound interest: “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”