Retirement Planning Tips
Susan Nelson Hopkins
Planning for retirement doesn't need to be stressful, or overwhelming. Consistent savings and careful planning are key ingredients.
Also, don't allow yourself to be intimidated by the whole process.
There are a few things you'll need to know to keep you on target for a comfortable, secure retirement lifestyle. Here are some useful retirement planning tips...
Consider your retirement date... What age will you be on your last day of work? This is important for calculating how much you will need for a secure future.
Determine how much money you want to have by the time you retire... Where to want to live when you retire and what you want to do will be a major factor here.
Make sure you know all about your social security benefits... Most of the time you will receive a letter that keeps you up to date on your current benefit status when you retire at different certain ages. This information will help you calculate an important portion of your retirement income.
Make good use of retirement plans and other accounts... This includes 401K employee accounts, tax free accounts, and various interest-earning investments and annuities.
Take part in a pension plan or retirement fund... If your employer doesn't provide one, take the initiative and start your own. It's amazing how quickly even $10 a month can accumulate... especially when you begin at a young age.
Don't touch your retirement accounts... Your savings MUST be left alone to accumulate interest. If you need college money, start another savings account when your child is young... again, $10 a week is a no-brainer. If there's no time to save, get a grant or a scholarship... there are literally thousands of them available. But whatever you do, don't touch your retirement monies!
Make sure that you are not only asking the right questions, but are actually asking questions... Think about what you want to know, and don't be afraid to ask someone for help. Professionals are available... just consult reputable people.
Set retirement goals for yourself... Make sure that you are doing everything possible to achieve your goals, so that you get to where you want to be.
Develop a retirement plan that is going to suit your needs... Don't fall for the "cookie-cutter", "one-size-fits-all" strategy. Take your time, ask lots of questions... and start.
Monitor your investments on a regular basis... Is your return-on-investment what you expected, or should you make adjustments. Perform due diligence on your own first... a retirement calculator and retirement planning software are useful tools. Then, get input from 2 or 3 financial "experts"... but make your own decision.
This is your life and your retirement, so be responsible... take control of your future.
Susan Nelson Hopkins
is the
webmaster for three website collections... the
Eyes-Only-Club (includes several family sites),
Susan's Gardens (a group of gardening sites), and
BirdsnBugsnBees
(a sample of planned kids sites).
Hopkins-Enterprises is another of her sites, and includes links to
family-friendly activities and topics. All websites include material either
authored by Susan or adapted by her... including the graphics. AND, the content
is always family-friendly.
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