Boosting Retirement Assets
Good rule: Stock and bond investments should be funded with money that you won’t need for at least five years.
Along with IRA improvements, enhancements to employer-sponsored savings programs such as the 401(k) plan could significantly boost retirement nest eggs. These plans generally include a tax incentive, a “matching” employer contribution, and the discipline of automatic payroll deduction. Overall, assets in the private pension system now exceed $5 trillion - 15 years ago the number was only $1.3 trillion.
The first step toward financial security is to make yourself aware of the responsibilities you face now and those you will face ahead. Then you need to educate yourself about investing.( http://www.pathtoinvesting.org/) The more you know about selecting investments and building a portfolio, the easier managing your finances and reaching your goals will be. Investing usually involves creating a financial plan and sticking to it. There is no perfect time to invest, but starting when you begin earning gives you a head start.