Make Your Retirement Plans Now Before It is Too Late

Everyone looks forward to retirement. It is a time when you can pursue what makes you truly happy, and spend a lot of quality time with your family. According to the United States Department of Labor less than half of the workers in this country have actually crunched the numbers to see how much they would need. Also, the average American spends 20 years in retirement. Put your money into retirement plans before you run out of time.

Make a Plan and Stick To It

Meet with an attorney and create a retirement strategy for saving your earnings in IRA’s and 401(k)’s. Be strict with yourself. Do not break your plan even for one week. The earlier you start, the better off you will be when it is time for you to retire. The United States Department of Labor estimates that you will need around 70 percent of your pre-retirement earnings once you retire to maintain your current lifestyle.

Contribute to Employer 401(k) Plans

These plans are perfect for retirement. They don’t get taxed until they are cashed, so they grow in an account for years. Also, depending on your plan your employer may have to match your contributions to your account, so that you are putting back double. Despite these great plans in 2012 over 30 percent of private industry workers with access to 401(k) plans did not contribute to them. Do not let these opportunities pass you by.

Meet with A Professionaland Create an Investment Plan

If you invest young and work with a professional to manage and grow your investments, by the time you retire you should have a nice chunk of change. Obviously, you need to find the right professional for your needs, and formulate the best possible plan for the long-term with them. It is a good idea to put your money to work for you, so that you don’t have to constantly be worrying about saving all the time.

Contact us for more information on retirement plans.

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