debt

8 ways 20-somethings can deal with debt

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"If your employer offers a retirement amount, at least contribute to the point of the match," Thakor says. "That's a guaranteed return on your investment of 50 percent to 100 percent."

Even if an employer-sponsored retirement plan isn't an option, saving for retirement early is still crucial. According to Bankrate.com's 401(k) calculator, a 20-year-old who saves $100 per month in a retirement account generating 8 percent annual returns will retire with more than a 30-year-old who saves twice as much each month. If a 401(k) is off the table, investigate options like an individual retirement account or a Roth IRA.


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