Are you dreaming about a picturesque retirement? But what does it cost? The goal is reachable when you have a plan and follow it. Here are the tips on retirement planning.
sum of several parts. Each one of those components has a value you can assign it. Each part of your lifestyle is something you can measure, to help create the appropriate framework for targeting your dream. The dream gets turned into numbers; and numbers are essential for planning.
to you, or is too much of a fantasy, a better frame of reference may be the lifestyle you’re living today. Preparing for retirement is all about saving. Using online risk assessment tools, in conjunction with seeking professional guidance can help you determine the appropriate investment allocations.
RETIREMENT SAVINGS SHORTFALL. FIFTY NINE PERCENT SAID IT WAS ONLY “SOMEWHAT LIKELY” OR “NOT AT ALL LIKELY” THAT THEIR SAVINGS AND SOCIAL SECURITY WILL BE ENOUGH TO LAST THEM THROUGHOUT THEIR RETIREMENT, AARP LEARNED.
on track SEE THE REALITY OF WHERE YOU ARE Check your current 401k plan provider’s website for a retirement calculator tool that will help you see where you stand. CONTROL THE CONTROLLABLES Start making small but important budgetary steps to increase the amount you put away every month. MAXIMIZE YOUR EMPLOYER OPTIONS Make sure you’re maximizing all the “free money” that may be available through any matching offered by your retirement plan. WORK WITH A PROFESSIONAL There’s a lot you can do on your own, but don’t downplay the value of working with a financial professional.