Understand you are not alone, 23% of the workers at the age of 50 never plan retirement. Planning retirement early is great but you can still do it smartly.
The first step is to analyze the situation - What's your age, how many years are left to retire, what are the possibilities
Your biggest wealth is the ability to earn income. Analyze your income sources and find opportunities to increase the current revenue and find new sources.
No matter how much you earn, your retirement planning completely depends on how much you save. The key is not to increase the expenses in proportion to your income growth.
Know how much money you spend and how you spend. Make it simple and just analyze your expenses. Try to plan your monthly spending.
Before investing in Stocks or anything, pay down your high-interest debt.
Whether it's a Credit Card, Expired Zero percent loan just clear all the debts. Investing in Stock Market may generate 8% to 10% while high-interest debt costs you 12%-15%.
If you have IRA or 401(K), max out your contribution in these retirement plans as your employers will match up your contribution which will help you.