Steps to Start Saving for Retirement Story

Steps to Start Saving for Retirement

The best time to start saving for retirement is 20 years ago. The second best time is now. The same is true of planting a tree, according to a popular Chinese proverb.

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If you’ve just recently become excited and motivated to take control of your finances or investments, or are just coming out of training, enjoy! Here are five steps you should follow to get started off on the right foot. Read More

Steps to Start Saving for Retirement

The best argument for doing it yourself comes down to the effect of saving the advisory fees on the growth of your portfolio over the long-term.

You cannot invest money you have not yet saved. Not only do you have to live within your means, but you must live well below your means.

Retirement accounts will help you to save taxes, grow your money faster, protect your assets from creditors, and plan your estate.

Once you have determined the types of accounts you will use, you will need to select the investments to use inside the accounts.

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Steps to Start Saving for Retirement

The best time to start saving for retirement is 20 years ago. The second best time is now. The same is true of planting a tree, according to a popular Chinese proverb.

Steps to Start Saving for Retirement

The best argument for doing it yourself comes down to the effect of saving the advisory fees on the growth of your portfolio over the long-term.

Decide Whether or Not to Be Your Own Investment Manager

You cannot invest money you have not yet saved. Not only do you have to live within your means, but you must live well below your means.

Carve Out a Significant Portion of Your Income to Invest

Retirement accounts will help you to save taxes, grow your money faster, protect your assets from creditors, and plan your estate.

Figure Out Which Retirement Accounts You Will Use

Once you have determined the types of accounts you will use, you will need to select the investments to use inside the accounts.

Choose a Reasonable Asset Allocation in Your Retirement Accounts

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