Financial Planning’s new series, The Next Step, aims to help Americans improve retirement readiness by taking simple actions. The inaugural edition features a 26-year-old lawyer in NYC, revealing their financial snapshot and advice from advisors on steps to secure a better retirement.

The lawyer earns $84,000 annually, saves 14% for retirement, and has no debt, putting them ahead of peers. With $5,000 saved for retirement, advisors suggest shifting to Roth contributions for tax benefits and diversifying across different retirement accounts for future flexibility.

Advisors recommend increasing savings to 20% or aiming for 17-18% to build a nest egg early, protecting wealth with whole life, disability, and long-term insurance, and enjoying life while maintaining financial stability. The key is to take small, strategic steps now for a secure retirement later.

Read more at Yahoo Finance: Is this young lawyer on track to retire?