Stages of Planning

Entering the Workforce

You can start to save for retirement as soon as you get your first job. Earned income qualifies you to open an individual retirement account (IRA), and the company you work for may offer a salary deferral plan.

While You're Working

One strategy for managing your varying goals is to separate your short-term investments from your long-term ones, as different types of securities are suited to different objectives.

Approaching Retirement

As you transition toward retirement, you may want to begin shifting your portfolio's asset allocation from more aggressive to moderate and conservative allocations.

Living in Retirement

The three principal sources of retirement income are typically Social Security, retirement plans and personal savings.