How to Begin Planning for Retirement

OCT 12, 2010

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The instability caused by the economy over the last two years should have taught us that the well runs dry. But a  recent finding, from the New Retirement Mindscape II, found that only half of pre-retirees know how much money will be needed for their retirement. It’s hard to realize – and save –  for that eventual rainy day, and retirement’s no different. Even if it’s 15, 20 or 30 years down the road, the day will come when you need a source of income and are no longer employed.

The study also showcased that how  important it is that people  feel confident in their financial future. Planning ahead and setting realistic goals are the backbone of a happy  retirement. Think about what you want from your golden years, imagine how you see your retirement. It’s an exciting time in life, and  it’s even more fulfilling when  you begin achieving your retirement ambitions. If you are close to retirement and are worried about how it will all work out – planning will help you feel more secure.

Steps to help you get started:

  1. Seek advice from a financial professional
  2. Set aside money in your employer-sponsored plan, savings accounts and investments
  3. Determine the amount of money you will need for retirement.

For the full study visit here.