Sound and thoughtful advice for planning your retirement. It all begins with starting to save for retirement early. The later in life you begin to save for retirement the more challenging it will be. Talk with a financial planner, they can get you on the right path and help you establish financial goal. You may have other expenses you want to save for such as children’s college fund. You can save for both retirement and college, but always prioritize your retirement overall. There are scholarships, grants and loans that can be obtained to help pay for college but there is no such thing as a retirement scholarship. Retirees also need to aware of all expenses that will occur during retirement which includes healthcare costs. Starting a healthcare savings account can help offset the healthcare expenses that will occur during retirement.
- 1Many Americans are either “not confident” or only “slightly confident” in their ability to make the right investment decisions in their retirement accounts.
- 2Start saving for retirement now.
- 3Set retirement savings goals and stick to them.
According to a recent Federal Reserve report, nearly half of respondents were either “not confident” or only “slightly confident” in their ability to make the right investment decisions in their retirement accounts.
Read the full article at: https://www.forbes.com/sites/kateashford/2016/05/27/retirement/?ss=personalfinance