Mariaelena Delgado might be young, but she’s savvy.
The 23-year-old financial coach from West Chicago, Illinois, saves money for two different savings accounts – one dedicated to an emergency fund and another for her retirement. While she might be relatively new to the workforce, she has already upped her retirement contributions from last year from 5% to 15%.
“I started small, built a good savings muscle and then I was able to save more,” Delgado says. “And as I earn more, I save more. It’s so important to save while you’re younger, not only will you have a more solid retirement plan, but you have time on your side.”
“Over time, you earn more interest on your money, and the sooner you start the more interest you have accumulate for when you’re older,” she says.
“Younger you needs to take care of older you.”Nena Delgado