A Roth IRA for minors is an effective way to help children begin saving for retirement early if they have earned income.

“A Roth IRA for kids provides all the benefits of a regular Roth IRA, but it's really geared towards children under 18 who also earn an income.”

Increasing retirement contributions by even 1% annually can significantly benefit one's future financial security.

“And one of the favorite tips that we share on Women Talk Money, which you can do today, is to increase your contribution by just 1% more. It will help make a difference and your future self will thank you.”

Investors should ensure they are taking advantage of catch-up contributions and employer matches for their retirement accounts.

“I have individuals who come in and say, I think I'm doing the company match in a 401(k) or 403(b), but they're not. So make sure you do those matches. That's a little misstep. Or they may say I'm maxing it out. But when you turn 50, you could do catch up contributions.”