A chapter on the hows and whys of saving for
retirement makes a good start for beginners.
Not exact matches
HOW MANY TIMES CAN I SAY THAT!!!!!
Best decision we ever
made was to
start «early», not quit in the
retirement savings plan and work with a recommended ACCREDITED financial planner.
Stashing away cash for
retirement starting at an early age is one of the
best money moves you can
make.
If a few of the above describe your situation, then you're prepared to weather a setback like a layoff or illness, you've got
good capacity to
make debt payments (or to borrow money, if needed), and you probably have a
good start on a
retirement nest egg.
To
start take a
good look at your regular income and expenses and
make savings and
retirement goals.
But ultimately the
best way to assure that you don't outlive your savings is to
start with a reasonable withdrawal rate, re-assess it annually and
make gradual adjustments to your spending as needed throughout
retirement.
Hell, your dad might tell you something like, «I
started investing in
retirement during college and it was one of the
best decisions I've ever
made.»
Indeed, even assuming you've established that having some money in an annuity
makes sense, you may be
better off
starting with a small amount and devoting more later if you find that your
retirement spending needs are greater than you expected.
The
best way to
start saving for
retirement and not worry about finances later in life is to
make a budget and open a savings account.
There are lots of refinements that can be
made to come up with a
better estimate of how much you should save for
retirement, but this simplified approach should highlight the most important message for
retirement savings: you must
start early and save a significant percentage of your employment income to have a reasonable probability of having enough
retirement income to live comfortably for up to 30 years in
retirement.
If you didn't
start making «catch - up» contributions to your
retirement accounts at age 50, it's a
good idea to consider doing so now.
Whether you're realizing your dreams by finally attaining your senior citizen years and
starting to enjoy
well - deserved
retirement or you're a young graduate
starting out fresh and living off campus at college, you can
make life a little easier by getting renters insurance.
Our message to retirees is: you have to live somewhere,
retirement gives you the freedom to
start over fresh, so you might as
well make an informed decision!