Preparing for Retirement When You’re Starting Late

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Preparing for Retirement When You’re Starting Late

Everyone knows that you’re supposed to start saving for retirement early, but that doesn’t always happen. In fact, if you look at the numbers, it’s actually pretty rare. Most people are woefully unprepared for retirement, but you can change that. Preparing for retirement is a lot like planting a tree. The best time to do it was 20 years ago. The next best time is right now, and the first step is pretty simple. You need to start throwing money at your investment accounts. You need to save as much as you can bear. Now, normally, I always say that you need to plan everything out and have everything in place before you take any concrete steps. In this case, however, you know that saving as much as possible is going to be a big part of the plan, so you might as well start while you’re still figuring everything else out. This is not the time for paralysis by analysis. You want to start stuffing money into your savings – and remember, if you’re 50 or older, you can put more into your 401k(k) and IRA accounts than younger people. Once you’ve started saving, you need to figure out […]

Provided by: Retirement Researcher

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