If you’ve ever wondered how to start saving for retirement, our money teacher Mariel Amador from Money for Mujeres is here to help break it down.
Mariel’s journey to financial freedom didn’t come without lessons. She shared that early on, she cashed out her 401(k) for a vacation, a decision she now calls a big mistake. That experience fueled her passion to help others make smarter financial choices and avoid common pitfalls.
When transitioning between jobs, there are several options for your 401(k). You can roll it over into your new employer’s plan, transfer it into an individual account, or keep it where it is depending on your situation. Understanding these choices can help you avoid penalties and keep your retirement savings growing.
One option many people consider is opening an IRA, or Individual Retirement Account. It’s a simple and flexible way to invest in your future. Even small contributions, like $10 from each paycheck, can add up over time. The key is to start early and stay consistent.
With the right knowledge and a plan in place, building a secure financial future is more achievable than you might think.
To learn more visit MoneyForMujeres.com
Mariel@MoneyForMujeres.com
Social Media: @MoneyForMujeres