What is the right age to plan for retirement?

There's no perfect age for retirement planning. The sooner you start, the more compounding benefits you'll receive. You can save money in a tax-deferred retirement account like Individual Retirement Account (IRA) or 401(k).

Consult a Certified Financial Planner (CFP) before starting.

You should start planning for retirement as soon as you get a job. Do you know one of my friends retired at the age of 32? Yes, I'm not kidding. He lived frugally, made some smart investments, saved a lot, and retired at the age of 32. This was a tough job. But, he did it.

The early you start, the better for you. I would suggest you start planning for your retirement the month and year you start your first job. Just think, by doing so, you’ll get ample time to plan for your retirement comfortably.

You should have enough money for days when you'll no longer get salary every month. So, think carefully if you're saving a right amount in a right way. However, according to new Allstate/National Journal Heartland Monitor Poll, people like to retire between 60-65 years of age. Sometimes it depends on people's choice, requirement, and health as well.