What are the first steps to take when planning for retirement in your 20s?
Trensix AI Synthesis
Retirement planning involves setting financial goals, assessing your current financial state, and creating a long-term strategy to accumulate enough funds to live comfortably after you stop working. This includes identifying income sources, estimating expenses, implementing a savings program, and managing assets. Common retirement vehicles include employer-sponsored plans like a 401(k) and individual retirement accounts (IRAs). The core objective is to build a nest egg that can support your desired lifestyle without earned income.
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