Retiring, for some, can be viewed as a finish line to the marathon of your life. Reaching the finish line takes proper planning some have not even considered. It is never too early to start thinking about retirement. Though 20 year olds may have better things to do; every year one waits to start a plan, that finish line draws closer and closer. Regardless if you are 20 or 50, everyone can benefit from those already in the know. Below are 4 takeaways from wealthy retirees.

1. As mentioned, start planning early. The more money you set aside early on in your career means the opportunity for your dollars will have to grow will increase greatly. The problem is many people simply do not save for retirement until it is too late. A wealthy retiree has been saving for retirement for a lot longer than 10-years. Even if you save a little in your 20’s and 30’s the outcome will be better than saving a lot in the 5-years before retirement.

2. With the above in mind, be sure to contact an accountant in order to set up proper retirement accounts early. The great thing about retirement accounts is they stay with you. Jobs come and go, people move out of state, and families grow, but a retirement account can always be there. Also, you don’t have to max out Individual Retirement Accounts (IRAs) every year. Save what you can when you can. Again, start early and give that money time to grow.

3. Open an IRA or ROTH IRA. No idea what an IRA is? Don’t worry, you are not alone. Thankfully there are many accountants in the Miami area which can help you get started and guide you through the process. An IRA is one of the best ways to retire comfortably and not have to rely solely on an uncertain social security system.

4. Lastly, and once you’ve set up an IRA, be sure to save a little each month. The amount does not have to be an uncomfortable, bank breaking figure. The standard saving amount many accountants quote is 10%. If you cannot save 10% each pay check, don’t worry. As long as you are truly trying, and remain diligent in your saving, you will at least get very close to your goals if not reach them. Always remember, slow and steady wins the race.

5. Lastly, get help when you need it. There are accounting professionals who can help guide you to your goals. You don’t have to be rich in order to need an accountant.