I have found these actions to be very helpful in planning for retirement:
- first create an emergency fund, start small and work up to 3 months of living expenses
- take something out of every paycheck and put it in a different account (perhaps a vacation fund)
- take 1/2 of any raise or “found money” and put it into an investment account
- create a budget and track it so you know where your money is spent
- don’t use credit cards if you can not stay to a budget (only use cash, when you are out of cash, you can’t have it)
- diversify your investments (don’t put all eggs in one basket)
- spend money socially (with friends and family)