While retirement planning was once thought of as an issue for older, wealthier individuals, the truth is that preparing for a secure future is no longer considered an income-specific endeavor only pursued by those about to enter their “golden years.” Providing for financial wellness in our later years has now become an individual responsibility, and the earlier you start, the better off you will be.

The first step we should all take towards achieving financial independence in our retirement years is the easiest: rethinking what we think about retirement preparedness.

Children watch and imitate the adults around them and money management is no different. The saving and spending habits they witness early on form lasting impressions on how they handle their own money in the future. Something as simple as putting spare change in a jar or cup sends a great message to developing minds about setting money aside.

Similarly, raising financially-literate teenagers will set them up for retirement planning success. From birthday gifts, to the income from part-time jobs, teens need to understand what to do with the money they have in their hands before it burns a hole in their pocket.

April 3 – 7 has been designated as National Retirement Planning Week. Check back next week to learn what retirement goals you can set if you’re in your 20s.