10 Tips for Early Retirement PlanningEarly retirement is a dream for many. The thought of being done with the workforce years ahead of your peers is a satisfying one. Here are 10 retirement planning tips that can help you throw in the towel early:
1. Make a plan
Map out your path to early retirement. Even if you do not make a great deal of money right now, it is important to figure out what you need to do to reach early retirement. (more…)
Saving Money for Retirement: How and When to Start
Source: https://www.manilla.com/resources/money/saving-money-for-retirement/
Many people wonder when to start saving for retirement. The truth is, it’s never too soon to get your finances in order and start saving money for retirement, a time when the last thing you’ll want to be doing is worrying about money. The earlier you begin, the more you can save, and if you ask most baby boomers approaching retirement right now, they’ll probably tell you they wish they’d paid more attention to their retirement savings when they were younger. Unfortunately, many Americans are entering retirement without enough savings. The way to avoid this is to maximize the ways to save money for retirement.
Here are two savings vehicles that can help in saving money for retirement: (more…)
5 Tips From the Pros on How to Save More for RetirementAsk yourself, “Am I saving enough for retirement?” If the answer is “no,” you’re not alone. Studies show most people don’t have enough in savings when it comes time to leave the workforce. While young adults with poor saving behaviors miss out on the benefits of compound interest and the ability to make small, reasonable payments throughout their lives, baby boomers who haven’t saved enough are in a rough spot. (more…)
10 Tips for Retirement SavingsMake a Plan for Retirement
Saving for retirement can be a bit difficult to figure out at first. If you need to get a handle on what you need to do to create a large nest egg, you need to begin with a plan. The U.S. Department of Labor recommends that you start by determining your net worth — the total value of your assets minus the value of your debts (things like the value of your house minus the value of what you still owe on your mortgage). You want this number to be positive, with your assets worth more than your debts. Don’t be disconcerted if that’s not the case. Even if you find your net worth is negative (as many people do), start there to figure out what you can do to make it positive. (more…)
10 Ways You Save Money When You RetireSource: http://money.usnews.com/money/blogs/On-Retirement/2013/06/04/10-ways-you-save-money-when-you-retire
1. Clothes. You will no longer need expensive business suits, or uniforms that you have to pay for yourself. And there’s no more need to buy and inventory a closet full of shoes for every occasion. (more…)