Tuesday, September 24, 2013
- Sign up for a retirement plan and maximize your contributions directly from your paychecks. You get a tax deduction and your retirement balance will increase.
- Review your contributions yearly and increase them regularly. If you inherit money, or get a raise, put a significant portion of it aside.
- Within a few years, you should see some serious progress. Saving can be difficult. It takes personal responsibility and accountability, but can be very rewarding.
See Mitch Tuchman Retirement Savings Comes From Character and Discipline, Not Luck, Forbes, Sep. 20, 2013.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.