When answer questions, be sure to provide details. For problems, show your work. You can begin taking steps to prepare for retirement right now. Let's say you have a tight budget that does not allow a maximum contribution to a defined contribution plan, but you can save $5,500 per year into a plan. How much will you accumulate at age 55 if you start saving at age 25 and can earn a 9% annualized rate of return on your investments? How much will the account be worth if you continue contributing until you reach age 65