The Confident Retirement Journey isn't just for those eligible for AARP cards.  In fact, some of the best comments I have received have been from those who are much younger.  As I point out in Chapter 5, procrastination is very costly.  Now, a new report by the Employee Benefit Research Institute adds more weight to the argument about why it is important to start saving now.  

In the EBRI's words:  “A single male age 25 earning $40,000 with no previous savings would need a total contribution rate (employee and employer combined) of less than 3 percent per year until retirement (age 65) for a 50 percent chance of success. A 6.4 percent contribution rate would achieve a 75 percent success rate and a 14 percent contribution rate would achieve a 90 percent success rate. But if a male earning $40,000 were to wait until age 40 to begin saving, he would need a 6.5 percent total contribution rate for just a 50 percent chance of success and a 16.5 percent total contribution rate for a 75 percent chance of success; a 90 percent probability of success would be impossible even with a 25 percent contribution rate.” 

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