Get free help preparing your taxes from AARP Foundation Tax-Aide. Find a location


You Could Choose Your Dream Vacation

Contests and

AARP’s Superstar
2015 Contest

Sing for a chance to win $5,000! Enter AARP’s Superstar 2015 Contest!
See official rules.

Driver Safety

Piggy bank on the road - AARP Driver Safety

Take the new AARP Smart Driver Course!

AARP Books

Visit the Money Section

Enjoy titles on retirement, Social Security, and becoming debt-free.

Jobs You Might Like

most popular


Behold The World's Easiest Retirement Plan

Try this fun approach to saving money.

Here's a savings strategy that's simple enough to use for your entire working life and worth passing on to adult children just entering the workforce: Save your age plus two zeros every year.

For example, when you're 20, your goal is to set aside at least $2,000 for retirement that year, and then $2,100 the next year, when you're 21, and so on. According to Charlie Fischer, one of my "miser advisers" and the cheapskate genius who came up with the idea, it has worked well for him for many years, and now that his daughter is working, she is enrolled in his Saving Your Age program, too.

Retirement birthday cake

Try banking just your age every week ($21 per week when you're 21 years old). It's easier than you think! — R. Kikuo Johnson

"I know it sounds silly, and it's totally arbitrary and may not work for every-one," Fischer admits. "But it's been an easy way for me to think about and remember how much I plan to put away for retirement every year — as long as I can remember how old I am, that is." To simplify things, Fischer has authorized his bank to automatically transfer the desired amount from his checking account into his retirement investment account according to a preset schedule.

He's also found that gradually increasing his annual retirement savings by only $100 a year has been virtually painless, but mathematically it really adds up. Assuming, say, a 5 percent annual rate of return, his Saving Your Age program will generate a retirement nest egg of nearly $500,000 over a 40-year career.

If you can't free up your age plus two zeros as a set-aside for retirement every year, try banking just your age every week ($21 per week when you're 21 years old). It's easier than you think, especially because your salary is likely to rise steadily throughout your career, making the weekly savings that much less noticeable. You'll be saving only about half as much under this modified plan, but a quarter of a million dollars in the bank after a 40-year career ain't nothin' to sneeze at, either.

Also of Interest

Visit the AARP home page for great deals and savings tips

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts


Please wait...

progress bar, please wait

Tell Us WhatYou Think

Please leave your comment below.

The Cheap Life

Jeff Yeager Cheap Life Ultimate Cheapskate AARP YouTube web series save money

Catch the latest episode of The Cheap Life starring Jeff Yeager, AARP's Ultimate Cheapskate. Watch

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

membership benefit financial college aarp

Advice on saving for education from AARP® College Savings Solutions from TIAA-CREF.

AARP Credit card from Chase

Members can get cash back rewards on purchases with the AARP® Credit Card from Chase.

member benefit aarp financial service auto insurance

AARP® Auto Insurance Program from The Hartford offers members no-cost quotes.

Member Benefits

Join or renew today! AARP members receive exclusive member benefits & affect social change.

Advance your skills. Transform your career.

Explore your learning possibilities.