Do you want to handle your personal finances like a professional accountant? According to Charles Sterck, Managing Partner of Sterck Kulik O’Neill Accounting Group, Inc., the most critical step in planning for your retirement is simply starting to save.
Get started by participating in your company’s 401k program and put money into your IRA today. Don’t wait until next April 15th when you’re looking for a tax deduction to open an IRA. Put money into this year’s IRA as soon as you can so that your money will grow tax free starting right now. This savings is not a rainy-day fund to be used for emergencies or to pay off credit cards. Treat the money in your retirement accounts as belonging to someone else: tell yourself that the account is owned by the future and not by you.