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Why Saving for Retirement Is a Waste of Time and Money You should invest for the future, not save for retirement.

By Brittney Castro

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Some people get overwhelmed by the concept of saving for retirement. But, Entrepreneur Network partner Brittney Castro explains it shouldn't be about only saving -- it should be about investing and compound interest. That's why her first step of preparing for retirement is to open up an investment account, add money and invest it.

Most people go wrong here. They think that once their money is in an investment account, they are automatically receiving interest. That's not the case -- you still need to decide which investment you want to buy into. It's usually a good idea to consult with a financial planner for this step.

Click play to learn more about how you should start your investment account and prepare for retirement.

Related: The Basics of Financial Planning

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Brittney Castro

Founder and CEO of Financially Wise Women

Brittney Castro is the founder and CEO of Financially Wise Women, a Los Angeles-based financial planning firm whose mission is to teach women and couples in their 30s and 40s the art of managing their money the fun and simple way.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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