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.