Pay off debts
Paying off debts, especially high-interest credit card and revolving accounts, can be critical to your long-term financial future. High interest rates seriously affect your ability to build retirement assets, as that money is instead transferred to the banks and other third parties who hold the debt.

Don't replace old debts with new ones
Very often people simply replace old debts with new ones (such as "consolidating" high interest credit card debt with lower interest debt); the bottom line is that if you wait until all your debts are paid off to begin saving for retirement, you may jeopardize your chances of achieving your retirement goals.

Create your own income stream
If you will not be receiving a company pension when you retire, you may want to consider other options that generate steady income, such as an income annuity so that you're guaranteed a lifetime retirement income to cover essential expenses.

Stay on Track
Have money deducted automatically from your paycheck or set up automatic savings from your checking account - in essence forcing you to save before you spend.