Retirement planning is a crucial part of planning for your future. Unfortunately, it’s often left on the back burner because many people don’t have enough income to contribute to a retirement fund or investments. Today, a large percentage of Americans live paycheck to paycheck; struggling to make it through the week and never thinking about retirement planning.
In a perfect world, retirement planning would begin at birth. Imagine how much money you could have if your parents put just $10 a week into a retirement account starting the day you were born. The reality is that most Americans don’t start planning for retirement until they are in their 40s and 50s. Worse yet, many people do not prepare for their golden years at all. Instead, they end up living on a fixed income provided by the government.
Retirement planning doesn’t have to be difficult, confusing, or overwhelming. It is not limited to the wealthy or lucky few. In fact, planning for your retirement can be downright exciting and exceptionally rewarding. There are endless opportunities that put your money to work for you. All it takes is a little time to do some research or consult with a professional retirement planner.
Perhaps one of the most trusted and trusted resources for retirement advice is the American Association of Retired Persons. As an advocate for retirees, the American Association of Retired Persons offers a comprehensive financial planning section on its website.
Everything you ever wanted to know about Individual Retirement Accounts (IRAs), Simplified Employee Pensions (SEPs), stocks, bonds, mutual funds, low-cost index investments, real estate investment trusts (REITs), and other investment opportunities they can be found on the American Association of Retired Persons website.
Another source for information on retirement planning is through the US Social Security Administration. The SSA website provides financial tools, calculators, and retirement planning forms to help you determine your benefit amount. social security benefits to which you may be entitled in your later years.
MyMoney.gov is a website operated by the US Committee on Financial Literacy and Education. This unique website provides a wealth of financial information and offers a free toolkit including a Consumer Action manual and numerous retirement planning.
Several employers offer retirement planning benefits to employees. In some cases, employers provide retirement education classes arranged by the benefits provider or through individual counseling provided by the human resources department.
Most likely, your banking institution offers retirement planning services. Most offer free consultations to their clients. Next time you’re at the bank, stop in the lobby and pick up retirement planning and financial literature. Better yet, set up a meeting with the branch manager to start taking steps toward your future.
Last but not least, investment firms are an excellent source for retirement planning information and advice. Professional investors can help you develop a diversified financial portfolio to ensure you achieve your short- and long-term financial goals.
By taking the time now to investigate opportunities that will allow your money to grow, you’ll be able to sit back and relax during your golden years!