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Start saving and planning early!
The impact of compounded growth on early savings is profound.
Incoming dollars are limited, so be intentional with where you put each one, Smith said.
A budget can be empowering.
This will also ensure you dont tap into retirement savings to cover these expenses.
Participate in your retirement plan at work to the maximum extent you are permitted on a pretax basis.
If youre 50 years or older, you should also take advantage of additional catch-up contributions, Niang said.
Waiting longer can be even more beneficial.
For the maximum Social Security benefit, delay collecting until age 70.
If youre single, schedule similar check-ins with your financial planner.
Women tend to live longer, Niang said.
Seek out someone who is used to working with people that have similar circumstances.
see to it to be involved in selecting a financial professional and build your own relationship.
Dont leave it solely up to your spouse or partner.
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