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Save for Retirement

Retirement might be the single greatest investment that you will make in your lifetime, maybe even more valuable than putting yourself or your kids through college, than buying a home, cars, or trips around the world.

Think about it. You’d probably like to retire sometime, right? What’s your plan on how to get there? Who knows, with technology, good genes, and even luck, how old you’ll live to be? However long your retirement, you’d probably like to spend those years comfortably. And how specifically would you like to spend those years? Volunteering for your favorite charity? Playing with your grandchildren? Now is the time to think about and start planning for what you want your retirement to be.

That’s why you should start saving right now. The earlier you start saving, the better off you’ll be when you retire. There’s Social Security, but you won’t be able to count only on that. All data is showing that what a couple will receive from Social Security after retirement isn’t really enough to live the way they’d like.

Two types of retirement plans are: Employer Sponsored (such as a 401(k)) and Individual Retirement Accounts (such as IRAs). Talk to your financial professional to see what plan is right for you.

One thing is for sure, retirement plans don’t work unless you take advantage of them. So we suggest you use them! And start today.

THE NUMBER, BY LEE EISENBERG, IS PUBLISHED BY FREE PRESS, A DIVISION OF SIMON & SCHUSTER, INC. PLEASE VISIT WWW.SIMONSAYS.COM AND
WWW.THENUMBERBOOK.COM FOR MORE INFORMATION ABOUT MR. EISENBERG'S BOOK. ING'S RETIREMENT SERVICES ARE UNRELATED TO MR. EISENBERG'S BOOK.

Calculator Disclaimer

The analysis provided by this tool is based soley on the information provided by you. All examples, if any, are hypothetical and for illustrative purposes and do not represent current or future performance of any specific investment. No guarantees are made as to the accuracy of any projection. This information does no serve, either directly or indirectly as legal, financial or tax advice and you should always consult a qualified professional legal, financial and/or tax advisor when making decisions relative to your individual tax situation. All investments carry a degree of risk, and past performance is not a guarantee of future results. Generally speaking, the greater the return, the greater the risk.

Ted Glime

Age:

Location:

Austin, TX

Occupation:

Civil Engineer

Current Salary:

$50,000 per year

Martial Status:

Single

Number:

$1,252,561

Ted started a job two years ago and, while he pretty much lives paycheck to paycheck, has been putting a small amount of his salary towards a 401(k). His employer matches it and he knows he’d be silly not to take advantage of that. He’d be missing out on free money. He doesn’t really even miss it because the money is taken out of his check before he sees it. He loves to golf, rock climb and go to happy hour with friends. These can be expensive habits. He worries somewhat about paying off his school loans and credit card debt.

Robert & Denise Carreon

Age:

Both 45

Location:

Denver, CO

Occupation:

He's a lawyer, She's a teacher

Current Salary:

$175,000 per year combined

Martial Status:

Married/Two kids, 9 and 7

Number:

$2,439,189

Robert has been working in law for 20 years. He has been putting quite a bit of money in his 401(k) for all of those years. He also has made money in stocks and buying and selling homes in Denver. Denise taught for 10 years before having her first child. She was a stay at home mom for about 4 years and has recently gone back to teaching. Her job offers a good retirement package and she plans on taking advantage of it. Their kids are expensive! They take piano, play football, have choir practice, tennis lessons and go to private school. Robert and Denise worry about whether they’re saving enough for retirement when they have to be saving for their children’s college and cover daily living expenses.

Charlie & Christine McClure

Age:

He's 64, She's 60

Location:

Holly, MI

Occupation:

Owners of a Diner

Current Salary:

$110,000

Martial Status:

Married, 3 grown children who are out of the house

Number:

$893,483

Charlie and Christine have owned a diner for 30 years. They used money left to Christine after her parents passed, to open it. They started their own savings plan years ago and rolled Charlie's 401(k) money into it when he quit his job as Foreman at a car plant in Detroit. They own a home that's up for sale. They put three children through college and paid for all of their weddings.

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