Because if you start late, there is nothing you can do about it.

I just saw a report that 42% of Americans have saved just $10,000 toward retirement. The type A in me finds that astonishing. My financial advisor says I will be in shortfall if I retire when I want and that scares me to death. But Garsh!!!! 10K?

A problem I had early was 24 years of education and a few years in the Army when I wasn’t putting into social security. And I wasn’t saving for retirement. But my early years were bliss. I lived a simple life and never felt in want. We still traveled. We camped all over the place. It was good. We did save for emergencies. But had a little debt to fix. But we did it. This is how.

Here are my tips for success:
-save 10% and leave it alone. It’s not your vacation fund.
-give 10% to charity. I don’t believe in Karma, but same idea.
-don’t take on any more debt except a low interest mortgage. There is no equity in renting.
-get out of debt NOW! Pay off the smallest debt first. Then add that payment amount to the next smallest debt. It works!!

-go all in on tax deferred or other sheltered pre-tax retirement savings

-when the market takes a hit, buy low. Pump up that IRA.
-diversify!!! Don’t put all your eggs in one basket. Don’t put all your trust in one advisor.

-cars are never an investment. Don’t let people tell you otherwise.
-Don’t think you need to use credit to get better credit. Being out of debt is much better than an over exaggerated credit rating.
-don’t overbuy anything, especially a house. You don’t need the latest everything. Learn contentment.

I guarantee I could look at every single persons budget and show you where you can improve. And I’m sure someone could do that for me too. Do some self evaluation and determine wants versus needs. I don’t believe someone who says they can’t save or give to charity. Something in those lives needs to change. And I’m certain we can find the real reasons.

Be independent. Not dependent on others or the government. That’s success!