For those investors who are serious about getting rich, Jim Cramer says that means preparing for retirement — regardless of age.
"Notice I didn't say save for retirement. I said prepare, because just stuffing your money in the first national bank of Sealy, a.k.a. stuffing it into your mattress, or automatically saving it into an IRA or 401(k), great though those two tax-deferred vehicles may be, might not be enough to prepare for your retirement," the "Mad Money" host said.
First things first, should you put your money into an individual retirement account? Yes!
Now that you know what you should do with an IRA, what about a 401(k)? Yes, Cramer recommended to contribute to a 401(k) if it is available. Most companies will match contributions to a certain point, which is like getting free money.