Focus on paying yourself first through your company sponsored retirement plan or an individual retirement plan. Fully fund your company sponsored retirement plan if you can. Take advantage of all employer contributions, raise your contribution annually, and invest appropriately according to your risk tolerance and time until retirement.
- Rebalance your retirement account on an annual basis to make sure your account
reflects your target asset allocation.
- The year you turn 50, you can start making catch-up contributions.
- Graph: Power of Compound Interest
- Graph: Benefit of Matching Contributions
- Calculator: 401(k) Savings
- Calculator: How much do I need to fund my retirement?
- Calculator: How much should I save each month?