In my opinion, once you hit the age of 22, no one will still consider you young. 21 is an odd age: you are old enough for almost all responsibilities but society does not consider you an adult. This summer I will hit 22 and it is about time to start saving for my retirement.

With the little research I have been doing so far, there have been two main points driven into me:

1. Diversify your portfolio.
2. Have a 6-12 month cushion in liquid assets in case of emergency

Most households have less than a years worth of income in total wealth. (Actual values: Income: $42,148. Wealth: $40,200.) How scary is that?