If you’ve started earning, whether through a business or a job, start saving in an IRA.
Different IRAs give you different benefits, so open one that matches your needs.
Traditional IRAs allow you to make pre-tax contributions, so you only pay taxes when you make a withdrawal. On the other hand, Roth IRAs are funded with post-tax money, but withdrawals are tax-free.
If your employer offers a 401k plan for employees and you meet the eligibility criteria, join it.
Make saving a habit instead of a luxury, and take temptation out of the picture.
If you can’t max out your IRA contributions right away, at least put in the maximum amount you can.
Start with the most expensive debt first, and refinance whatever you can with lower-interest vehicles.
Returns on investments will account for a larger chunk of retirement income than your retirement savings and interest alone.
When you change jobs, rollover your 401k money into your new employer’s plan or an IRA.
Stay up-to-date with the latest rules, regulations and opportunities, so you can make smart decisions for your future.