When should one ideally begin to save for retirement?

One should start saving for his retirement from th very first day of his job. Most of us think "retirement is too far" and don't take too much of interest in early saving. But we don't realise the more late we are doing, the more problem we are creating from ourselves.

For me, you have to set a goal in life and then work towards achieving it. Also you will have to prioritize the things in the order you want to accomplish them.Many of us start saving from the first month we start earning a salary but there are some who don't have the ability to save at all. Some depend on their retirement benefits. 

I strongly believe that we should first try to accumulate all the necessities for a comfortable living before we start saving for retirement. Many of you will agree with me that we do use our savings to do things that is necessary so this cannot be considered retirement savings even if we replace it at a later date. I will say the correct age will be 10 years prior to retirement.

it depends on the liability of the employee, his family circumstances, his expenditure and then savings.

but ideally from the first salary

Planning for retirement should not only aim at ones own financial stability but also help the children settle down in life, with better education and a decent job. unless they are married off well and settled, retirement for anyone cannot be peaceful. 

We all know that 'saving' is to-day's punishishment  to give result in future. We are to forego todays convenience to save. But equally know that savings for my retirement is only my duty - nobodys headache.

Then when do we start ? It depends on individuals ( including his/her family ) present needs  and their capacity to generate surplus. It might be best to start early with a small amount to be increased in course of time.

External planning: Is what we all are agreeing to. Viz. sart from day 1 or may be 10 years prior to superannuation age, etc...These planning methods have definate calculations and can still be derived for the old age/ retirement age till you survive. The financial planners have further calculate for the medical expenses, next of kin, etc...so on so forth. the list is endless and it only adds to little more and more savings today. It becomes extremely difficult to set such savings aside on either monthly or regular intervals. And even if you are in a position to do, you would still be wondering whether these savings will be enough with the rate at which the Cost of Living is rising and maintain your stadard of living.

Internal Planning: This area is the most neglected area. It revolves around you and your family. In fact this area is not a novel area, but requires many social environment changes like Propogation of joint families, inculcate the interdependancy concept in the younger generation, etc...Which means that after retirement your social and financial planning is still on the younger generation and you have that moral and social support from your children. It will revolve around the current parenting that you do and the social parenting that your society does together.

I feel the combination of the above will be the ideal approach for the retirement planning.

Anand Naik 

Simply grab a Government job.

Enjoy "pre and post" asides during by doing side business. 

IF ONE IS A SALARIED PERSON HE/SHE KNOWS RETIREMENT DATE. IF ONE IS A PROFESSIONAL ONE SHOULD DECIDE IN ADVANCE WHEN TO RETIRE FROM ACTIVE PROESSIONAL LIFE.

IN EITHER CASE ONE CAN VISUALISE THE KIND OF LIFESTYLE TO LEAD.

ACCORDINGLY ONE CAN PLAN FOR OUR REQUIREMENTS POST-RETIREMENT

To save you have to practice saving. It is a practice. One fine day you cannot start saving may be it is your first salary. Saving should ideally be started as a teenager. The first saving should be from the pocket money. CUT THE EXPENSE for a bigger surprise in the future! May it be a cycle or a PC it does not matter. The habit should of saving should be there. Everybody wants to save when they start earning. But what they actually do is spent the salary even before they understand what they got. So parents should teach their children to save.

Yes because watever the way it is savings for retirement is important,  Because all are not going to invest in LIC, some people go through realestates, some go through Bonds, Some go through bank fixed deposits, like this whatever the way savings is main.