Retirement

What's the difference between IRA and 401(K)? IRA is a retirement saving plan done on your own. It is non-taxable until it is withdrawn. A 401(K) is also a retirement plan, but its saving is matched by the employer. It is also non-taxable.
Social Security is a federal program to aid older citizens, orphaned children and the disabled. It is rather a large topic lately because the "baby boomers" are now all reaching retirement and receiving social security.
Retirement relates to personal savings. Retirement funds are the most important personal funds, funds to ensure a good life after retirement.

Investment Calculator: http://www.johnhancock.com/solutions/tools-calculators.html?EngineId=gsn&l=PPC:gsn:investment+calculator

After looking at the calculator, it is shown that the early you start saving the less compound interest will effect you. You will save much more than waiting for ten years or so. The longer you wait the larger the compound interest will grow.

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