If the average retirement age is between 60 to 65, when should one actually start saving? “Not just now but yesterday,” advises Pioneer Life Inc. CEO Lorenzo Chan. Indeed, entering retirement is not as easy as one may think. Without their previous source of income, most retirees basically live off savings as well as any financial vehicles they’ve been wise enough to invest in. But if you haven’t given much thought past this month’s expenses, don’t fret. Whether you’re in your 20s, 30s, 40s, or 50s, it’s never too late—or too early—to start a retirement plan. And the sooner you do so, the more money you will be able to save and the brighter your golden years will be.

For more financial advice, check these out:

(First published as "Get Set for the Golden Years" in Good Housekeeping Magazine in October 2009; adapted for use in Female Network)

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