Money rules to rescue your retirement

>>> this morning on "today's money," financial rules to live by to invest in your retirement. jean chatzky is the author of "money rules." good to see you.

>> nice to see you.

>> rule number one, your job is your most important investment.

>> right. and think about it. income, much more than your house, much more than your retirement portfolio is what's going to keep you going. you want to keep that income coming in as long as possible which means delaying social security . and that gives your retirement assets time to grow .

>> rule number 13 , don't think of anything as chump change.

>> right. if you are not a saver, the way to start saving is small amounts of money. and many people blow this off. they think, $25, what's that going to mean to me in the future? well, if it's $25 on top of 25 on top of 25 that grows at 6% for 20 years, it's hundreds of thousands of dollars. so just get in there.

>> rule 17, your home is your piggy bank , not your cash cow .

>> during the housing bubble , people were raiding their piggy banks . they were getting in there and they were pulling money out of their homes in the form of home equity loans . today they have no equity. they're upside down, they're underwater. if you do it right, your mortgage becomes a supplementary savings account . you feed the pig over time . and when you get to retirement, you have this big, fat asset that you can use.

>> got me a little nervous. got me a little nervous there. rule number 32 . your retirement trumps your kids' tuition.

>> parents feel really guilty when they put their own retirement before their kids' college tuition . but there is no financial aid for retirement. there's still financial aid for college. and think about it this way. if you don't put your own retirement first, then when you get to the point where you have to retire, your kids who are then trying to put their own kids through college are going to have to bail you out. 401(k)s and i.r.a.s come first.

>> rule number 53 , forget about having it all. have what you value most.

>> this is a priority question. and you have to come together with your spouse and realize, money's a limited resource . we all only have so much. and so let's think about what we really want most. and let's work toward those specific goals. and if you could have picture as tached with those goals and know what they look like, far better than numbers.

>> number 70 , hands off your retirement funds, period.

>> period, done. how many times have you said this on "money 911"? do not raid that 401(k). i don't care for what reason because even small disruptions in those funds make a huge difference in the end.

>> hope is not a retirement plan .

>> i don't think i need to elaborate.

>> i think you're done. thanks