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Prepare For Retirement

Chances are you're going to live a good, long life. Are you financially prepared for it?

Opinions expressed by Entrepreneur contributors are their own.

Follow these tips to make sure your money is working as hard as you are.

  • Are you saving enough money? Start building your nest egg now by saving at least 10 percent of your annual income.
  • Do you have an IRA, a 401(k) or SEP plan? If not, start one today.
  • Where are your investments? Don't put all your eggs in one basket. Make sure your investments are diversified.
  • Do you know where your money goes? For one month, keep close track of how you spend your money. You'll be amazed by what you uncover.
  • Are you prepared for life's big events? School costs, a new house, a wedding? You need a targeted savings plan for these circumstances.

Most important, find a financial advisor you like and trust. Ask for their advice -- and follow it!

Excerpted from Get Smart: 365 Tips to Boost Your Entrepreneurial IQ