In this series, Tips from the Pros, Money taps the collective wisdom of expert financial planners.
When you get your first job there are many things to think about. One of the most important is how much money you are going to save for retirement. Financial experts agree that the sooner you start saving for retirement, the better off you will be when you actually want to retire. There are a few ways to begin saving. One way is to defer enough of your paycheck to your 401(k) plan so that your employer matches your contribution. Another way is to determine how much you can live off, and then save anywhere between 10% and 25% of your paycheck.
Benjamin Sullivan Palisades Hudson Financial Group
Allan Katz Comprehensive Wealth Management Group
David Mendels Creative Financial Concepts
Hans-Christian Winkler Claraphi Advisory Network
Gail Linn MetLife Financial Group of New York