Saving For Retirement

Saving for retirement can be stressful and confusing. While researching information on retirement planning, I was astonished by the lack of retirement planning and preparation that most Americans have set for their golden years. I was also concerned how difficult it was to find a simple, yet clear guide on how to plan for retirement. Here are my best tips on how to plan and prepare for retirement**:
Tips for Saving for Retirement
Determine the annual income you will need in order to live the life you want in your golden years.
Calculate how much you will have when you retire:
Budget spending each month and contribute a percent of your savings to diversified retirement accounts. (IRA’s, 401K, money markets)
Contribute to your employer’s retirement savings plan.
Revisit your goals semiannually and adjust to meet your needs.
Ways to get ahead:
Start saving in your 20’s or even earlier.
Save 10-15% of your annual salary and invest it into your retirement.
Maximize your company’s 401k matching. Not taking advantage of this is leaving free money on the table.
Do not dip into your retirement savings early!!

**Following these steps will not necessarily guarantee retirement success. These tips are a guideline and any retirement plans should be consulted by a professional.