What follows are the 10 rules you need to know to effectively save for retirement. I will expand on each one as time goes by.
Make it automatic (either from your paycheck or checking account)
Diversify, Diversify, Diversify
Don't be overly conservative in your allocation
Don't be overly aggressive in your allocation
Consistently increase contributions
Tax Diversification - use both pre-tax & post tax accounts (Roth)
Don't borrow from your retirement savings
Keep overall expense low
Avoid products with long surrender periods and high surrender charges
If you follow these ten rules you will have a successful retirement savings plan.
Scott Dauenhauer, CFP, MSFP