Maybe you consider yourself young, and think “Well, I’m not going to retire for another 30 or 40 years.” Maybe you think you’ll be set “when the time comes.” But, if you start working with an investment planner florissant mo, you’ll be much better off.
The thing is, too many people hit retirement age and are shocked that they have barely enough to live on. In order to survive, some people have to work part time (as opposed to those types that want to, which a lot of people do want to as well). Here are some tips for planning for retirement.
· Starting early really is beneficial. Think about it. If you put $1000 in an account when you’re 25 as opposed to when you’re 40, there’s going to be a lot more growth, and thus, a lot more money when you hit retirement.
· Be honest. Too many people just go by “basic rules” instead of being honest about what they’ll need. Ask questions instead of just relying on formulas. Will you still owe a mortgage? Will you be moving? What about taxes?
· Employer matching is a huge win! Many companies offer employer matching on your 401k; if you put $25 out of every paycheck, they’ll match that $25. Your investment grows not only because of interest, but because your employer is helping you out.
· Switching jobs? Make sure you take it with you. Not that you plan on quitting, but when you work out your IRA or 401k plan with your employer, make sure that a transfer due to job changing or loss is easy to do.
As you look at your options and start planning things out, you will find that there are many different ways in which you can get what you need. Talk to a planner and find a course of action that makes sense for your circumstances.