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This page will teach you how to save for retirement. Whether you have 3 years to go or 30, you've come to the right place.
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Tips
- It's never too early to start saving for retirement
- If you don't have time to manage your investments yourself, consider an Index Fund
- Start a 401k. Check to see if your employer will match your contributions
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Step 1: Budget
The only way to financial success in life - the only way - is to spend less than you earn, and the only way to confirm that you're doing that is by budgeting and tracking. Set goals for yourself at the beginning of the month and measure your progress on a daily or weekly basis. When you meet one of your savings goals, congratulate yourself on a job well done! -
Step 2: Manage Your Savings
Once you've completed Step 1 and confirmed that you're spending less than you earn, you should begin to see money accumulate. However, what you do with that money is of extreme importance. Most people could simply not afford to retire by stuffing their savings into a mattress, so the next step is to invest your savings wisely and watch them grow. -
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Step 3: Turn Down the Risk
When you're young and are decades away from retirement, you can afford to take on significantly more risk than when you get older. As you age from decade to decade, progressively move more of your money out of stocks and into secure investments like bonds. -
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