1. Know when to start retirement planning
When you start Retirement Planning is up to you, but the earlier you start planning, the more time your money has to grow.
2. Figure out how much money you need to retire
The amount of money you need to retire is a function of your current income and expenses, and how you think those expenses may change in retirement.
3. Prioritize your financial goals
Retirement is probably not your only savings goal. Lots of people have financial Goals they feel are more pressing, such as paying down credit card or student loan debt or building up an emergency fund.
4. Choose the best retirement plan for you
A cornerstone of retirement planning is determining not only how much to save, but also where to save it.
5. Select your retirement investments
Retirement accounts provide access to a range of investments, including stocks, bonds and mutual funds. Determining the right mix of retirement investments depends on how long you have until you need the money and how comfortable you are with risk.
