A couple of years ago, I decided to save my money for retirement. 

At the time, I was living with my partner and our home in Perth and couldn’t afford to move out to Sydney. 

My partner wanted to take a short break, so I made a budget to cover that. 

As the years passed and I started to have more money, I started saving for my future.

In this article, I’ll give you a few tips on how to save your money for your retirement.


Don’t have too much cash to lose You can’t save more than a third of your assets in the short term.

If you have too little money, you’ll miss out on the opportunity to build up your savings.

If you have a large portfolio, it’s more likely you’ll have to use your existing savings for your investment.


Get into a tax-advantaged account There are tax-exempt retirement savings accounts and 401(k)s, so if you’re going to use a tax deductible retirement savings account, it will have to be a 401(a).

 If you’re a first time investor, you may be able to set up a tax exempt account.


Keep track of your investments You can set up an online tax-free brokerage account to keep track of the investments you make.

The most popular brokerage accounts are called “multi-factor” accounts, and are available from banks, mutual funds, and brokerage firms.


Save for your children If your children are going to be earning a lot of money, it can be a good idea to set aside some of your savings for them.

You can also set aside a little extra money for them for school, travel and other expenses.


Set up a savings plan You can save up to 15 per cent of your income for a Roth IRA.

Alternatively, you can use a taxable annuity.

This can provide a tax free retirement, as you won’t have to pay any income tax.


Use a retirement savings plan for retirement If it’s a traditional retirement, set up your retirement savings in a taxable account or a taxable savings account. 

These accounts will be taxed at a lower rate than a Roth.


Invest in local propertyA good investment strategy for retirement is to invest in real estate, or property, rather than stocks or bonds.

Some property investing can be tax free if you invest in local real estate. 

Some property may be more tax free than other investments, however. 


Set a retirement age for your investmentsA retirement age is set by your state and the age at which you retire from your current job.

Set a retirement date that’s the age you can retire from work and then move into a different position.


Set your retirement datesA retirement date should be set based on your goals and your circumstances.

Here are some tips for setting retirement dates: Make a plan for when you want to retire.

Take a step back and think about your career and how you want it to end. 

If it is a long-term career, consider having your retirement date set in the future. 

It’s also a good time to consider if you want a career that will provide you with a decent income. 

Consider starting a new career that can pay well. 

 Set a goal for how much you want your retirement to be. 

For example, set a goal of $150,000, which is a decent amount of money for a typical full-time employee in your career. 

Set goals for the time you’ll be retiring. 

In some cases, this may not be realistic. 

Look at your income.

If it’s not enough to cover your expenses, consider starting a smaller retirement plan. 

Get advice about how much money you should have.


Choose a plan that’s affordable for youIn most cases, the tax benefits associated with an IRA are less than a taxable retirement savings arrangement. 

So, if you are making a retirement plan that covers your expenses but still provides a taxable benefit, you might want to look at the tax advantages of a taxable IRA. 

There are tax benefits to a tax qualified IRA, which means you’ll receive a tax deduction when you withdraw money from the IRA.

This tax deduction is typically used for things like property taxes, insurance premiums and other deductions.

Tax qualified IRAs are also often tax free for tax year 2018-19. 

A tax qualified IRA is an IRA that has been set up in accordance with the tax rules for the tax year you’re planning to retire from.


Check out your tax returnIt’s always important to check your tax returns for any changes to your circumstances, as these can affect your tax plan and you’ll need to adjust your income to account for the changes.If you