Anyone that knows me knows that I love talking about personal finance and smart ways to earn and save. One of the most important savings “tricks” is to start saving for retirement early, as advised in this article:
http://www.dailyfinance.com/2012/11/14/retirement-savings-by-age-how-do-you-compare/
Here are some easy steps to take if you’re not sure what to do:
- Start putting money into a retirement account as early as possible, ideally right out of college when you’re 21
- Open a retirement account with a low cost brokerage like Vanguard. You want the brokerage’s annual expenses to be as low as possible, and vanguard is known as one of the best.
- Choose a stable index fund like the Vanguard 500
- Regularly purchase the same amount for the index funds, so you don’t have to time the market and try to predict when it’s high and low (something that “experts” aren’t even able to do)
- Remember, start saving a little bit now, and you’re financial planning will be that much easier in the future!