PHOENIX (3TV/CBS 5) -- Ladies, when it comes to your money, how involved are you?

How prepared are you for retirement?

What stocks do you own?

Are you investing enough?

Experts say these are the questions we need to ask ourselves.

And to answer them, financial expert Nancy Tengler says you just think of how you would put together that perfect outfit.

"Think about the way you design a wardrobe. You have a basic black dress and that's the utility player, right? It generates boring returns but you can dress it up. These would be stocks like Johnson and Johnson or Chevron. And then you want to pop a color with your shoes. That's your jazzy 30s, 40s company. And then you have a handbag and it has a purpose. It has some utility and some style like maybe an Apple or Microsoft or Facebook, so you think about building a portfolio the way you might build a wardrobe," she said

She said right now the average family has $150,000 saved.

She recommends three to four million so you need to pay attention and start making some moves.

She said if you're in your 30s and haven't started saving, you're not behind yet but you better get busy.

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Your 40s are your top earnings years so put away a lot.

If you're in your 50s and 60s she said you need to be aggressive because you're saving years are limited.

So which stocks should you look at?

"I recommend to young people that they buy companies that are industry leaders, that they don't have to worry about being around. stocks you can own for a lifetime," she said.

"I think Facebook is the kind of stock you could end up owning for a lifetime.

Think about Microsoft. Ten years ago they were written off for dead and now they're industry leaders because they had the cash and the leadership to transition the company. same with Apple," she said.

Other tips include:

• Opening an IRA and investing even small amounts every paycheck

• Be aggressive

• Retirement is 20 years of unemployment so work as long as you can and be pretty aggressive

• Take advantage of catch up provisions

• Don't look at the market every day, you don't look at your home value every day. Stocks are meant to return over a three to five year period

• Don't run with the fast crowd, don't chase the latest new thing

• Finally, she said women, once involved, tend to make better investors than men.

"We do more research, we're less competitive so we have all the instincts that you need to be a good investor. We can multi task between left and right brain and you need to be able to do that to be a good investor so it's a crime in my view that women don't engage more in the process," she said.

Heidi Goitia is the traffic reporter and fill-in anchor for CBS 5 This Morning weekdays from 4:30-7am.

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