What are some common retirement savings mistakes to avoid?
Some common mistakes include not starting early, underestimating expenses, and failing to diversify investments.
How can I start saving for retirement if I'm in my 30s?
Start by setting a budget, contributing to a retirement account like a 401(k) or IRA, and taking advantage of employer matches.
Is it too late to save for retirement if I'm in my 50s?
It's never too late! Focus on maximizing contributions and consider catch-up contributions if available.
What percentage of my income should I save for retirement?
A common guideline is to save 15% of your income, but adjust based on your retirement goals and timeline.
Can you explain the importance of having an emergency fund?
An emergency fund helps cover unexpected expenses without derailing your retirement savings plan.
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