#1: Waiting Too Long To Save
The longer your savings have to grow, the more they’ll do that. It’s like rolling a snowball down a hill. The farther you are from the bottom (retirement), the larger the snowball (savings) will be by the time it gets there. The longer you have money invested, the longer you can compound interest or earnings and let them grow. So you’ll want to take advantage of an IRA or 401(k) as soon as possible.