10 money moves you need to make in your 20s

  • Start a retirement account, pronto!

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    I know, you're just starting your first job; retirement isn't even a blip on your radar screen. But it'll never be easier to start saving than right now, and by putting money in an account in your 20s, you maximize the near-magical phenomenon of compound interest. It's something that has the potential to turn $100 deposits now into $1 million withdrawals later.

    Your employer may offer you a 401(k), which is the easiest way to save. The money comes right out of your paycheck, so you'll never miss it. Plus, many employers will match your contribution up to a certain percentage. That's free money you don't want to pass up.

    If a 401(k) isn't available through your job, start an IRA instead. (Personally, I recommend a Roth IRA for reasons you can read about here.)