THE BEGINNER’S GUIDE TO RETIREMENT PLANNING
When you’re young it’s easy to think of retirement as far off—an idea to speculate over but not have to be concerned with immediately.
Yet, the earlier you prepare for retirement, the less you’ll have to worry about. It is better to prepare for the future while you have years to invest in it. Otherwise, you might find yourself scrambling to figure out how you’re going to budget your money after retirement.
Here are three helpful tips to get a head start on your retirement planning and secure your future.
START RIGHT NOW
There are plenty of resources on the internet to help build the foundations of your retirement. It’s never too late set a goal in mind and start saving immediately. The future might seem far away, and where you’re going might not require roads, but that doesn’t mean you can put off saving. Establishing a ROTH IRA or 401K will provide financial security for you and your grandkids (or grand-dogs/cats/other animal). Furthermore, automating money every month toward you retirement will
BUDGET YOUR INCOME
Got a sweet tax return? Raise? Found twenty dollars on the ground? Don’t spend it immediately. While purchasing a new TV might give you a boost of instant gratification now the benefits of holding off and saving will be far greater in the future. If you are making smaller purchases—coffee once a day, lunch every other day, etc—find ways to cut back on these expenses.
CAN’T TOUCH THIS
The point of saving is to save! If you use your retirement money even for emergencies it defeats the purpose of saving in the first place. Your future is an investment. As intangible is it might be there will come a day when you need a security blanket to enjoy the finer things in life—cruising around the world, living mortgage free, and chasing kids off the lawn.