Baby steps to retirement savings: How to get started with the investment of your life
If you’re among those who know you should begin saving and investing for retirement but fear taking what you perceive as a giant leap, you may find comfort in the above catchphrases. Taking even 1 small baby step toward retirement savings can lead to more significant forward movement. Before you know it, that first timid baby step will have led to confident strides toward retirement security.
“People don’t act if they don’t think their actions will improve their situations, so the whole concept of baby steps is a great idea,” says Dave Littell, retirement income program director at The American College in Bryn Mawr, Pennsylvania.
Here are a few suggestions to get that march toward a rich retirement underway.
You want to get psyched about retirement saving and investing. A baby step toward that goal is to educate yourself about the best ways to save and invest. “Learning something new can get you motivated,” Littell says.
He suggests novices take courses in retirement saving and investing through local adult education programs. Next, augment formal education with your own research.
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