Retirement packages have changed substantially over the last few decades. As agencies and companies changed from providing long-term solutions for their employees through pension plans to put most of the retirement savings decisions...Read More
The 50-something's action plan for retirement.
When you are young and just starting out, it is difficult to think about retirement, and nearly impossible to think about saving for it. With so many expenses to consider, socking money away for a future that is several decades away doesn’t seem to make sense. By the time you reach your 40s, retirement is starting to sound good, so you probably have started to save for it more seriously. By the time you reach 55, you can get a pretty good idea of just where you need to be financially to be able to retire comfortably.
The problem is that many people don’t know exactly where they need to be financially to be comfortable in retirement. In some cases, people may be missing a few key components for what is needed to make it easier to live within their new means.
There are several factors to consider when trying to determine how much you need to be to retire into the lifestyle you have always imagined you would have in your golden years. Whether you are getting ready to re-tire early or trying to make sure that you have enough saved up by the time you turn 65, the factors are the same – only the amount of time to prepare is different.
- What kind of lifestyle do you want to live?
- How does it compare to your current life-style?
- Have you taken inflation into account?
- Do you have a plan in place, or do you need help getting a plan
Understanding how all of these elements are connected and how they should be worked into your retirement will help you to better successfully plan to retire. Each of these considerations is a key part of a successful retirement.
The rest of this guide will walk you through what you need to do to start getting your retirement on Track while avoiding some of the pitfalls that could prevent you from living your dream retirement. Should you feel that you need more help reaching your goals, we can help you find the right resources and help you create a retirement plan to suit your needs on the Road to Retirement.
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