Top tips to start investing and saving for retirement

If you are planning to start early saving for retirement, you are in the correct place! Here you will find the best tips & tricks to start saving and planning retirement. 

If you are planning to start early saving for retirement, you are in the correct place! Here you will find the best tips & tricks to start saving and planning retirement. 

Retirement may be decades away, but it's never too early to start investing, even just a small amount at a time.

First of all, if your employer offers a 401(k) plan and will match your contributions, don't leave that "free money" on the table! Because contributions are taken from your pay before your employer withholds income tax, you may be able to reduce your tax bill, and more of your money will be able to go to work for you.

First of all, if your employer offers a 401(k) plan and will match your contributions, don't leave that "free money" on the table!

If your employer doesn't provide a match, it's still important to invest as much as you can now and let your earnings have an opportunity to work in your favor.

What is more, you may want to think about opening an IRA in addition to or instead of a 401(k) plan if your employer doesn't offer one. Even if you have a 401(k), you may have more investment choices through an IRA.

Whether you choose a Traditional or Roth IRA will depend largely on your income and age. (If you're a small business owner, you may also be able to contribute to a small business IRA).

What is more, you may want to think about opening an IRA in addition to or instead of a 401(k) plan if your employer doesn't offer one.

Finally, if you're able to save and invest more, keep it going and make additional contributions to your 401(k). This could set you on a good track for the future and reduce your income tax burden even more. You can also contribute to an IRA.

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