Set a retirement goal
Estimate your retirement expenses
Determine your target retirement age
Build an emergency fund first
Pay off high-interest debt
Contribute to employer-sponsored retirement accounts
Contribute enough to get any employer match
Max out tax-advantaged retirement accounts
Use low-cost diversified index funds
Diversify across stocks, bonds, and cash
Increase stock allocation when young
Reduce risk as retirement approaches
Automate contributions
Increase savings rate over time
Reinvest dividends and capital gains
Avoid early withdrawals
Review and rebalance regularly
Keep investment fees low
Maintain a long-term strategy
Adjust the plan as income and goals change