The first step toward financial security in retirement is to assess your specific situation, project your retirement expenses, and investigate your savings options. Today, we live longer yet retire earlier. It's never too late to begin saving, but the sooner you start the more time your money has to grow. Studies have shown that stocks have the best chance of achieving high returns over the long term and are important for retirement savings.

The government has created tax incentives for retirement savers. If offered, take full advantage of your retirement plan at work such as a 401(k) or 403(b). IRAs also provide tax incentives and are an excellent way to save for your golden years.