It's Never Too Early To Plan

For some, retirement may seem very far off, but here are some very good reasons to start now:

  • Fewer employers are providing pensions and with the uncertainties of social security, the burden is greater on you to save on your own.
  • Time is on your side to grow your retirement savings/investments.
  • You can start small and increase throughout the years. Even setting aside a small portion of your paycheck each month will pay off in big dollars later through the power of compounding.
  • You can afford to invest more aggressively, which can have higher returns.

Tips on How to Save Smart for Retirement:

  • Start now. Don’t wait. Time is of the essence.
  • Start small if your budget is tight, but even small amounts can make a big difference through time.
  • Consider the right kind of investments and tax-favored vehicles such as company 401(k)s, IRAs, and SEPs for business owners.
  • Use automatic deductions from your payroll or your checking account to invest in mutual funds, IRAs, or other investment vehicles.
  • Make saving for retirement a habit and a high priority.
  • Stock markets fluctuate and may get nerve racking, but stick with the plan (consult with a professional or contact me) for the long haul.
  • If you change jobs, keep your retirement account money in your former employer's plan or roll it over into your new employer's plan or an IRA.
  • Don’t dip into retirement savings...don't rob your future...period.

Tips on How To Prepare When There’s Little Time:

  • Save everything you can into your retirement plans and personal savings.
  • Reduce your expenses immediately and take those savings and invest into your retirement plans.
  • Take a second job, work extra hours, pick up a side hustle, e.g., Uber, Lyft.
  • Consult with a professional, assess your risk tolerance and balance your risk and reward to squeeze out better returns from your investments.
  • Defer your retirement. Working part-time when you retire may be not enough.
  • Reassess and refine your goals.
  • Delay taking Social Security as it will be higher the longer you wait.
  • Look for other ways to supplement your income, such as renting out a room in your house or move to a less expensive house to access your home equity (consult with a financial professional).