In response to a survey of members of Generation X—500 people between age 25 and 40—that indicated 24% are hesitant to open an IRA because they don’t have enough money for the minimum investment, Charles Schwab has devised a number of recommendations for how they can save money.

Among the brokerage’s recommendations are: forgoing happy hour or fully loaded new cars, apportioning part of a raise to retirement, trimming on wedding expenses, not splurging all-out on purchases for a new baby and furnishing a new home with purchases from a discount store rather than a high-end boutique. For sports fans who buy season tickets, Schwab recommends splitting the expense with a friend.

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