Many workers will be able to accumulate $1 million over the course of their career if they save consistently beginning at a young age, invest prudently, and avoid withdrawing money early. It helps, of course, to sidestep fees, taxes, and penalties along the way whenever possible. Here’s what it takes to become a millionaire

Where should I save my retirement money? Tax-favored retirement accounts such as individual retirement accounts (IRAs) and 401(k)s are the best places to save for your retirement. The different types of plans have different features, but most of them allow you to defer taxes on the money you save and the returns you earn within the account. “Tax deferral”

Have dreams about retiring early? We have some tips on how to make that dream a reality. According to the Michigan Association of CPAs, retiring early takes meticulous planning and more than a tidy sum of money, but for the truly committed, early retirement is possible. Here is what you need to do if you

Make one or two mistakes in handling your retirement money and you could be paying a stiff penalty later in your life. With the stock market on such unsteady legs, it pays to stay clear of these common mistakes: You pay attention to the market losses instead of your long-term needs. Catastrophic events and long-term

Regardless of age, planning for retirement is an important component of any long-term financial strategy. Through the benefits of modern medicine, people are commonly living well into their 80s and beyond. Coupled with the continuing uncertainty surrounding social security benefits, careful planning is vital to ensure adequate financial resources are available throughout retirement. At its