No matter what your age is, it is never too early to start thinking about retirement. The years fly by us, and before you know it, you’re faced with a decision – do you keep working, or will you retire? The real question is do you have the funds to retire securely? While it is great to put chunks of money away as an older adult, it still doesn’t make up for the lost time that you could have been saving when you were a younger adult.
Start Small
Saving money is a rewarding habit! You know that there will be a payoff in the end. Start small, putting aside perhaps ten, maybe twenty dollars a month out of each paycheck into a savings account. You will be surprised at just how quickly this can add up! When you are ready, you can up the numbers as you wish, and watch your retirement fund steadily grow and grow!
401(k)’s
If you have the opportunity to participate in your employer’s 401(k) program, don’t pass that opportunity up! Doing so can maximize your dollars! The best part about these programs is that most employers will match your contribution, in order to encourage and increase your participation. In later years, you’ll be glad that you participated!
Make A Plan
By making a plan, you are setting yourself up for success. When you plan, you can do things like create a budget so you can easily see where your money is going, and be able to allocate it accordingly. You can also research your options to find out what kind of investment vehicle would be a wise choice for you. By saving today, you avoid the worry of crippling debt tomorrow.
Do Your Research
It can be daunting with all of these financial terms and jargon. It’s okay if you don’t understand all of it. By taking initiative and doing your research, you are showing that you are serious about getting educated about it and that you are ready to take on the task of saving for your retirement fund. Find all the information that you can, surf the web, visit your local library, even go so far as to visit someone to talk about it about it, learn as much as you possible can, and you will thank yourself down the road!
Become Debt-Free
The last thing that anyone wants is debt in their retirement years. Those are the years to be worry and stress-free! But if you are struggling and trying to make it from paycheck to paycheck, and can’t even fathom putting money away for retirement, it may be time to make some slight changes in your daily life. Small changes now can lead to big benefits down the road.
For instance, picking up some extra work can easily give you the extra cash you need to pay down your bills. Start eating at home, and avoid buying new clothes or the latest smartphone or tablet. Make it your goal to get out of debt, and you will surely get there!
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I am a stay-at-home- mom, living in KY with my husband and children. I’m a travel and lifestyle blogger encouraging folks to live their life one adventure at a time while also focusing on beauty, essential oils and health. From time to time I also like to showcase my adorable pets along with my family. Along with Cinnamon Hollow I can be found at The Martin Family Adventure … read more