Why saving for retirement need not be your priority in your 20s and 30s

You must have read several articles that highlighted the importance of saving for your retirement, but here's one article that is about to preach just the opposite. Saving for your retirement is not only a waste of your time, it is also a waste of your money. Saving is supposed to be fun, but when you start saving for your retirement, it takes all the fun out of saving. Who wants to think about old age when they still have so many high-energy years left ahead of them? Saving buys financial freedom, but if you're saving to stash away your money for the next 30-40 years, what kind of financial freedom are you going to enjoy in your best years?

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We've rounded up four reasons why saving for your retirement should be effectively put on the back-burner:

Not being able to use your money to make the most of your life

Do you want to jump off a cliff or swim with the dolphins? Don't think about how expensive it is. Do it even if it costs you an entire month's salary. If you save the amount for your retirement, it will be too late till you realize that you don't have the nerve or the health to fulfill your dreams at a ripe old age.

Not being able to live your life on your own terms

If you've been thinking of abandoning your 9-to-5 job to become a full-time trekker, don't allow worry for your future to halt you in your tracks. Sure, being a trekker will not bring in as much income as your 9-to-5 job does, but you'll be happy and content because you'll be following your passion. However, if you have a fixed retirement plan, you'll never be able to choose a life of your choice as you'll constantly worry about not having enough money when you retire.

Not knowing what life has in store for you

What if you stash away a lot of cash to live a comfortable life when you finally retire, but die an untimely death at the age of 35? As harsh as it sounds, it's not completely unlikely. Life isn't predictable, and sometimes it's okay to take the road less taken. 'Live for the moment' might be an overused phrase, but it's not untrue.

Invest in your future

Saving for your retirement is a short-sighted act. Think long-term by investing in your future. When you pool all your current savings to further your professional goals, you'll not only have a successful future, but you'll also end up having a secured post-retirement plan. Therefore, you should see the bigger picture and invest wisely in your future instead of thinking about retirement plans at the age of 20.

As George Foreman once rightfully said, "The question isn't at what age I want to retire, it's at what income."

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