Many times, we are just looking to get to the finish line and be able to stop working. What we are not thinking about is finding a way to have enough money once we get there. That is what the biggest problem is with people who are contemplating retirement or continuing to work for many more years. They are faced with the problem of how I will live without my regular income. The problem is that they did not think about the future and now that it is here, they do not know what they will do. This is shy it is so important to be able to go and start some type of savings plan now. No matter how old you are, something is better than nothing.
Friday, August 20, 2010
Thursday, August 12, 2010
There are many of us who have lost quite a bit of our retirement funds based on what has been happening in the economy during recent times. What a lot of people do not realize is that there is still a chance to catch that back up even if you are in your 50’s this is because you should be able to put more money away as in many cases your kids will have grown up and you will have fewer expenses since many of your other regular payments will likely be paid off. You can then start funneling some of this money into your retirement savings in an effort to build it back up to where it needs to be so you can retire when you want.
Thursday, July 29, 2010
There is one thing that is almost guaranteed as you increase in age and get closer to retirement. That is the fact that you will need to go to the doctor more and you will begin to accumulate more medical expenses. One thing you need to look at in order to be able to fend off some of these expenses is to look at and consider if there is insurance available toy u through your employer after retirement. Consider all of the other options that are out there for you as well as you hit your golden years. Things such as government assistance as well as looking to see if you can pay for your insurance on your own while in retirement. Look into possibly having multiple carriers or supplemental insurance as well to help ease the burden as bills pile up. Try to see which of the plans will work the best for you.
Tuesday, July 27, 2010
There are numerous ways that you can use so you will be able to improve and increase the amount of money you will have in the end when you go to retire. One of the first things to look at is the dividends you will receive from current investments. This is because the financial tide is finally turning and more companies are paying dividends than they have in the recent past. Consider going smaller is another option. This means moving into a smaller home. Yes, many of us do not want to give up what we have but look it at from a money standpoint. Do you really need such a large house that you have to pay to heat and maintain or can you live and be happy in. It will make a large difference when you do retire and you are looking to live off of what you have and can increase your spending power with smaller bills for your home.
Monday, July 26, 2010
The best answer to this question is right now if you have not already started. This is because you can never be too sure or safe in how much you have or will need to retire anymore. The best time to start or if possible is near age 25. That is of course if you are looking to be able to have a million in wait for when you retire. If you start here and you put away about $200 per month you will be able to realize this goal, especially if it is a matching 401k. You will need to increase the amount by $10 per month each year in order to continue on the level of growth you will need to reach for the million. At the age of 35 you should be at about $400 per month in contributions so you will be able to reach your goal and continue this on through retirement if at all possible.
Saturday, July 24, 2010
Friday, July 23, 2010
Joseph Leonard is a registered Investment Advisor in North Carolina, author of The Retirement Vault and founder and CEO of the Financial Management Company in North Carolina, Coastal Financial Associates.