It’s either a subject you are obsessing over, or avoid altogether, with very little middle of the road. Whether you are 25 or 65, it is something you definitely should think about, and not ignore.

First of all, come up with a plan, not difficult at all. Visit calculators offered by Fidelity, T. Rowe Price, Vanguard, or my personal favorite, the people at Kiplingers: http://kiplinger.com/links/retirementcalculator   Really no excuse for not at least doing that. Those interested in being successful at retirement, can either devote their every waking moment toward it, or get smart and hire a certified financial planner. If you need a recommendation, just ask!

Second, be aware of some of the pitfalls that you may face. (1) Losing you job. It happens to the best of us, happened to me many years back and turned out to be the best thing – but that doesn’t ring true for everyone. Use Linked in to stay in touch, stay relevant, and make connections. People helping people – powerful stuff!   (2) Getting divorced. Been there too. Seek advice of friends and paid council. Making the right moves financially can be to your benefit or detriment for years to come. So, now matter which side of it you are on, seek sound financial advice. (3) Becoming a caregiver. It happens to a lot of us. If it may happen to you, seek help early. There are plenty of programs, funds, and free advice out there to help you not to jeopardize your entire savings paying for care. Take advantage of it and the wisdom those who have gone before you can share.

Third, my personal savings tips: a few bits of advice that I’ve been given over the years from different sources, and have tried hard to follow:

  • How to save ¼ Million toward retirement.   From the years of 25 to 65, the average person will own 10 cars (1 every 4 years). Be different, keep each car for 10 years, and only own 4 cars in 40 years. Not owning those other 6 cars could save you $250,000!
  • Max out Roth IRA contributions each year, and start early. Roth IRA’s (if you don’t know) are worth looking into, and while they are not tax deductible now, the distributions you take in retirement are fully tax free.
  • Make a budget. People with budgets are 100% more likely to stick to them, and actually accumulate some savings. Start as early as possible. Cutting 10% out of your income at age 40 is much more difficult than starting at age 25.
  • Buy a home. Buying over renting has immeasurable positive effects on your finances. Gives you a forced savings account, a great tax deduction, and emergency cash just in case.

Fourth, just get started. Take five minutes to invest in your future now. Advice is always free, give me a call today to get started.

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