The first step of goal setting is brainstorming about your retirement dreams and asking yourself important questions. For example, when would you like to retire? Would you like to retire at the normal retirement age, or did you have a different age in mind?
The best way to do so is to take inventory of your current financial situation. In doing so, you can create a working budget that fits your needs. Budgeting your money is the best way to understand your income and expenses.
Grab your phone, pull up your bank account, and transfer some money to savings. Any amount is sufficient. The intent isn't to fund your entire retirement but rather to take the first step toward your retirement goals.
Even if you elect to work with a retirement professional, it's still a good idea to educate yourself on the different retirement investments available to you. The number of options can be overwhelming, and each carries its own set of rules and regulations.