Saving Money Matters: Preparing for Retirement

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For many, retirement seems like such a long time from now, but now is exactly the time you should start saving.

Scott Hanson, senior partner of Hanson McClain Advisors tells us the ins and outs of saving for retirement.

First, Hanson says there's no "magic number" in terms of how much you should save. Maybe start with 10 percent of your income if you're under 50, he says.

You should also look into the difference between a Roth IRA and a mutual fund, and decide which one is best for you.

Have a plan for your debt. You should have all of your debts settled before retirement.

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