This phrase embodies financial wisdom that can maximize your ability to build wealth. Although simple, it requires you to take a few steps, leading to long-lasting benefits.
Workers have saved a median of $93,000 in all household retirement accounts. That would be an excellent start for those in their 20s but may not be enough for those closer to retirement age.
1. Set Financial Goals
By paying yourself first, you prioritize your savings, directing money toward your emergency funds, retirement accounts, and where most needed.