There are over 100 million people working in America today. Many dream of retiring someday. Financial security and retirement doesn’t just happen. It takes planning and commitment, and yes, it takes money; enough money to live on for at least 20 years, maybe more. Here are some financial planning tips that can help you succeed:

Make saving a habit. If you’re already saving every month, great. keep going. If you’re not, start now. The sooner you start, the more time your money has to grow.

Know your retirement expenses. Figure you will want at least 70% of your pre-retirement income to live comfortably. Knowing what you need is the first step to getting what you need. The key to a secure retirement is to have a goal.

Participate in your 401(K). If your employer offers a 401(K) Plan, sign up and contribute to the maximum. Over time, compound interest and tax deferrals can make a big difference in the amount you accumulate.

Invest wisely. Diversify your savings to reduce risk. Your investment mix may change over time; depending on your age, goals, and circumstances. Financial knowledge and financial security go hand in hand.

Find out about your Social Security benefits. Social Security benefits provide supplemental income for you and your spouse. Go to the Social Security Administration’s website to see how much the government will pay you every month.

Ask questions. The more you know, the better your chances to enjoy financial security in your retirement years. Talk with an accountant or financial adviser. Ask questions, get good advice. Have a plan and stick with it.

Make planning for your retirement a priority. It’s never too early or too late to start saving for your future.