But let's say you're 30 years old and haven't started stashing money away; you may have difficulty getting there.
And as a result of this, if you're going to live during a 30 or 40 year retirement.
In Edelman's opinion, you're late to the game if you're over 25 and haven't started saving and investing.
When people do set money aside, it's often in the wrong places, such as bank savings, money market accounts, and government bonds, Edelman said.
All of this might sound complicated for a beginner, but diversification can be achieved through exchange-traded funds (ETFs), Edelman noted.
Persons:
haven't, Ric Edelman, Barron's, Edelman, it's, aren't, Franklin Templeton
Organizations:
Federal Reserve, Edelman, New York Times, Trust, Vanguard
Locations:
America