Prioritize Your Investments To Support Your Situation
Automate your retirement plan contributions, contribute to other regular savings opportunities, and slow down automated spending on bills and credit cards.
If you can automate financial virtue and slow down financial vice, you will achieve your goals sooner than you could imagine.
By making your saving automatic and (if needed) your spending intentional, you can achieve financial independence and the freedom to spend your time as you desire far earlier than average.
For retirement plans from previous employers, you have an option to move the funds into your current employer retirement plan in a direct tax-free transfer. You can also set up an IRA on your own with a brokerage or mutual fund company and transfer old retirement plan balances directly, without suffering a tax hit. Here are some considerations to help you make your decision.
Early Financial Planning Tips
Taking small steps can help you successfully plan for your retirement
About 83 percent of you are unaware of the 401(k) retirement plan costs you pay every quarter. According to research, you don’t understand the expenses, costs, and fees that are coming out of your wallet.
You have been a good saver and savvy investor for most of your life. Living beneath your means for years, you have contributed the maximum to your retirement plan at work. Not satisfied with putting away $22,000 a year, you…