In your 20s or 30s – it’s difficult to get excited about retirement. It’s difficult to fathom that money that could be spent on experiences, things and travel now is being sacrificed for retirement decades away. Younger investors who experience success with their investments can become engaged and begin enjoying participating in the growth of their money. 

Probably the most important facet of saving and investing is to have enough assets to invest. That means developing a lifestyle that allows you to live below your means. Spend less than you make.

Research or work with your Certified Financial Planner pro to find long-term investments. They may be more aggressive and designed for growth. If you’re using a tax-advantage retirement plan, you can benefit from either tax-deferral or tax-free growth. 

Part of a retirement savings plan is risk mitigation. What would put your plan at risk? A job loss or other situation that would cause a temporary financial emergency. That can take you off track. If you can build an emergency fund to cover a major car repair, uncovered medical expenses, temporary job loss or other situation – you’ll not need to stop contributing to your retirement.

A slush fund can help you build up assets for those spontaneous ‘fun’ things like eating out, travel or an unplanned purchase. 

Once you’re set up, you’ll need to periodically check back to make sure that you’re on track. This may mean reviewing some of the investment holdings, and making some changes to lock in gains. It’s OK to take on extra risk in order to grow more – when you’re younger you have more time to recover if the holdings are hit with a down market. 

And finally – if you’re managing it yourself – stay informed about the economy and financial trends that could affect your portfolio.