Saving for Retirement-Yay!

Saving for Retirement-Yay!

saving-for-retirement-todayIt is said that it is never too late to start saving for retirement. However, thanks to compound interest, the sooner you start, the better off you will be. Here are some simple steps that will help you boost your much needed retirement fund.
1. Start now
This might sound like an obvious piece of advice, but surprisingly enough, there is an alarmingly huge number of adults who still haven’t started saving for retirement. The best course of action here is to start right now. It doesn’t really matter how much you squirrel away, as long as you are doing it in the right kitty. If you start now, you give your funds the chance to grow, thanks to compound interest.
2. A 401K is a brilliant idea
This is one of the best ways to start saving for your retirement. With a traditional 401K, you can start saving today on your pre-tax earnings. Choosing to start a 401K will give you an added advantage, especially if you have an employer who offers to match your plan. Some employers make up to 50% for employees contributing 5% of their income. This means that you have a substantial amount of ‘free’ money that you should take advantage of. It is one of the best ways to boost your retirement fund.
3. Think about opening an IRA fund
An ‘Individual Retirement Account’ is another way to properly boost your nest egg. There are quite a number of IRA’s available that can suit all kinds of situations. It is up to you to determine the best one based on your financial capabilities and eventual retirement goals.
One thing is for certain, if you do not start thinking about your retirement plan now; if you do not start doing something about it, your twilight years will be mired with more trouble than you may have anticipated. Setting up a retirement nest egg is the best way to ensure that you are still not breaking your back trying to make a living when you are 60. The more you contribute and invest now, the better it will be for you later on.

Hey Hey!


Frank here, I decided there weren’t quite enough blogs on the ole web so I said” why not add one more?”!

All kidding aside though, I deal with a lot of people who need financial educational and management help. I like to bring a lighthearted and fun approach to financial topics, so you won’t find any boring suits on this blog.

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-Talk Soon!