Julie Jason

@Experian A10. Don’t wait. Start saving with your first paycheck. And, invest aggressively. #CreditChat

Q10. What’s one piece of retirement planning advice you’d give your younger self today? #CreditChat

@Experian A9. Simply plan on the unexpected. Set aside a special savings fund that you can reach into if and when the need arises. #CreditChat

Q9. What are some smart ways to prepare for unexpected expenses or healthcare costs in retirement? #CreditChat

@Experian A8. That’s a fool’s errand. Just like going on a diet, focusing on the weight you want to lose by a certain date usually backfires. Focusing on your daily habits of eating and exercising reap results. #CreditChat

Q8. How can people estimate how much money they’ll actually need in retirement? #CreditChat

@Experian A7. There is only one right answer: Maximize your match. Learn how your company match works. Then, make sure you claim every penny. #CreditChat

Q7. What role does employer matching play in retirement planning, and how can people make the most of it? #CreditChat

@Experian A6. Retirement investing is not something you can turn on and off as you travel through time. Just like brushing your teeth, you just do it everyday – saving and investing for retirement needs to become a habit. #CreditChat

Q6. How often should people review or adjust their retirement savings strategy as their life and financial goals change? #CreditChat

@Experian A5. If you qualify for a Roth IRA, that takes precedence over every other kind of retirement plan you can set up on your own. #CreditChat

Q5. For someone just getting started or if you don’t have access to an employer-offered retirement plan, what retirement account options should they explore first? #CreditChat

@Experian A4. Debt and retirement savings and not equally weighted. That means you cannot balance one against the other. The trick is to think of retirement savings as more important than anything else you can do with your money – more important than spending. #CreditChat

Q4. How can people balance paying off debt while also saving for retirement at the same time? #CreditChat

@Experian A3. Spending money they don’t have (buying consumer items on credit). Not realizing how important time is in the savings equation. #CreditChat

Q3. What’s one retirement savings mistake you wish more people knew how to avoid? #CreditChat

@Experian A2. Age, which really translates into time. The number of years you have between now and retirement will determine your potential to build the wealth you need when you retire. #CreditChat

Q2. What factors matter most when choosing a retirement savings strategy — age, income, lifestyle goals, risk tolerance, or something else? #CreditChat

@Experian A1. Think ahead to a “future you.” As your future -retired-self if you have any regrets when it comes to saving for retirement. If you are like millions of retirees, the answer will be: I regret not saving for retirement when I started my first job. #CreditChat

Q1. When should you start thinking seriously about retirement planning, and what can motivate consumers to begin saving? #CreditChat

A10e. The contest is live now. Enter for free. Three winners will be named 401(k) Champion with a cash prize of $1,000. 401kchampion.com #CreditChat

A10d. By the way, 401(k)s with matches accelerate compounding.  If you are a knowledgeable 401(k) participant, you can share your story in a national essay contest I sponsor called the 401(k) Champion Competition. #CreditChat

A10c. And, if you can’t afford to participate, check out your tax withholding. Don’t think you can figure all of this out on a weekend. It takes time and effort and believe me, it’s worth it. You want to do what’s necessary to secure your future. #CreditChat

A10b. Now, the burden of funding a retirement has shifted from the employer (pensions) to the employee (401ks). While 401(k)s are hugely helpful in amassing retirement wealth if understood and optimized, there is work involved. You need to study your plan. #CreditChat

A10a. Don’t think that everything will fall into place by itself. Why? Times have changed – fewer lifelong pensions – longer lifespans – more complicated lives. . .  #CreditChat

A9. That’s what emergency funds are for. #CreditChat

A7. Easy. Have multiple objectives working at the same time. Always, always, always keep the retirement objective going no matter what the other objectives may be. Why? Do not interrupt compounding. #CreditChat

A6. Excuses are the biggest obstacle. You can create excuses for not doing your homework, for not taking advantage of compounding, for not maximizing your 401(k). At a minimum, excuses delay action – in worse situations, excuses prevent actions. #CreditChat

A5c. You can’t go back in time to catch up on mistakes you made when you were young.  Biggest mistake retirees regret making: Not taking full advantage of compounding by not saving/investing early enough. #CreditChat

A5b. But, most importantly, all generations need to pay greater attention to finance, especially retirement finance, since you only retire once in a lifetime and you don’t get a do-over. This is important stuff. #CreditChat