How can you start preparing for the ultimate vacation, otherwise known as retirement? First, make this your mantra: “To live well in retirement, I can no longer depend on a company pension or Social Security. Instead, I need to plan, invest and make good use of tools such as 401Ks and/or IRAs.” Here are some tips for success:

• Save early and save often. We've heard this since we were young. It's never too late, and the sooner that you start, the more time your money has to grow. • Set realistic goals. You need to determine the lifestyle that you want after you've retired. Do you know how much it will cost? How much money can you expect to receive from Social Security, 401Ks, IRAs, etc.? Make sure you read the estimate that the Social Security mails to you every year. It's a useful tool. • Are you giving up free money? If your employer offers a 401K and you're not taking advantage of it, you're throwing away free money. Most employers will match a certain amount of the money you allocate. • Investigate IRAs. These are great opportunities to provide future income, and they offer a tax break. Check with your local credit union or bank as many offer an IRA savings account. You can allocate a set amount to be deposited each pay period and when you have enough saved (usually $500) you can purchase an IRA certificate. This is truly a painless way to invest and it doesn't require large amounts of money. • Diversify, diversify, diversify. Make sure your retirement portfolio has a mix of both stocks and bonds.

Retirement is meant to be a time to enjoy the fruits of your labors. It's never too late to start planning and saving. May all of your retirement dreams come true!