We have no retirement savings set up, so what should be our first step?
Answers | 2
Your first step should be to check with your employer to see if they have a retirement plan in place. i.e.401(k). SEP, or Simple plan. These plans allow you to save for retirement and reduce your taxable wages for the current year. After that, you should decide if you would want to DIY or sit down with a Financial Adviser and plan your retirement.
Talk to a CFP (Certified Financial Planner) to balance any new plan with the rest of your finances. Get all fees/commissions in writing so you can track your success. ~Gaylord Rohloff