The key is to start as early as you can and invest consistently over time
Plan for retirement

4 steps to begin investment and retirement planning
Start saving today to help meet your future retirement goals
Step 1: Take action and focus on your emergency savings first
Before you start investing for the future, make sure you have enough emergency savings to weather unforeseen expenses.
You'll want to have at least six weeks of income set aside in a separate savings account. This account should be for emergencies only.
Don't be discouraged if you haven't built your emergency savings yet. We may be able to help.
Our My Savings Plan® tool is an automated way to help you build your savings.1
Step 2: Ensure your debt is manageable
You may be ready to start investing once your spending, saving, and debt levels are all well managed.
If you have significant debt, start by paying it down while making smaller contributions to your savings or investments.
Over time, you can make larger contributions toward your savings and investments.
Use the My Money Map financial tool to track spending, saving, and budgets all in one place.
Step 3: Participate in your employer-sponsored retirement plan
Your workplace may offer a 401(k), 403(b), or governmental 457(b). If your employer offers matching contributions, consider contributing at least as much as they match – this is additional money that you don't want to pass up.
If your employer doesn’t offer a sponsored retirement plan, it’s still important that you save for retirement before investing toward other goals.
Step 4: Set a savings goal and increase your contributions over time
Choose a percentage of your income to consistently put toward an investing or retirement goal. Depending on your finances, you may want to start with a smaller percentage and adjust it over time as your income changes. Even a small amount per paycheck can add up over time.
Once you’re consistently investing toward retirement, you can consider other long-term goals. Similar to retirement saving, simply choose a percentage of your income to consistently put toward your non-retirement goal.
Use the My Retirement Plan® Savings Calculator to help create a non-retirement savings goal that works for you.
Read more
You’re on your way to planning your retirement. Up next:

Saving vs. investing: Which is right for you?

Investing basics: How compound growth can help build wealth

Planning for expenses and income needs in retirement
Learn more about planning for retirement
Investing basics
- Compounding and the cost of waiting
- Putting your money to work
- What to consider before selling investments
- Investment types and terminology
- Types of investments — Stocks
- Types of investments — Bonds
- Types of investments — ETFs
- Types of investments — Mutual Funds
- Why invest?
- Investing Basics: Why diversification is important

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If you’re looking for more options, call Wells Fargo Advisors at 1-866-522-0459 or schedule a consultation.
1. Requires a Wells Fargo savings account.
Wells Fargo and Company and its Affiliates do not provide tax or legal advice. This communication cannot be relied upon to avoid tax penalties. Please consult your tax and legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your tax return is filed.
Investment and Insurance Products are:
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- Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
- Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
Investment products and services are offered through Wells Fargo Advisors. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC (WFCS) and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.
Retirement Professionals are registered representatives of and offer brokerage products through Wells Fargo Clearing Services, LLC (WFCS). Discussions with Retirement Professionals may lead to a referral to affiliates including Wells Fargo Bank, N.A. WFCS and its associates may receive a financial or other benefit for this referral. Wells Fargo Bank, N.A. is a banking affiliate of Wells Fargo & Company.
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