Thinking about retirement stirs up one of two reactions in most people: excitement or panic. If you identify with the latter, chances are it has to do with the figure in your retirement funds account, or the lack of one altogether.
Retirement wealth planning can be confusing. But confusing doesn’t mean impossible, difficult or unmanageable. It just means there are a few things you need to know.
It’s never too late to start saving for retirement.
Getting an early start on your retirement savings is the ideal course of action. But, it’s not the only way to reach your goals or be able to retire.
Like many things, the most important part of getting where you want to be is just starting. So, whether you’re 25, 45, or even 65, you can start contributing to your retirement. Yes, your investments will look different at 57 than it would have at 27. But a 57-year-old with a solid plan is well on their way to building a stronger retirement fund than someone under similar circumstances who thought it was just too late to start saving.
No contribution is too small to afford retirement.
No matter if you’re contributing $10 or $1,000 per paycheck, any savings amount will always be better than $0. Even saving a few dollars at a time can get you to your retirement fund goal.
Just like having wealth today does not equal having wealth tomorrow, you don’t need a six-figure salary to start saving for your retirement. In fact, the numbers are in and a 25-year old who sets $35 aside each week can retire with more than a million dollars if invested properly. That’s about the cost of a dinner out or a yoga class.
You don’t need to be a millionaire today to retire like one tomorrow.
You don’t need a background in investments to earn returns.
We are all experts at something, but not everything.
If you wanted to learn the best exercises to get in shape, you would go to a trainer. If you weren’t feeling your best, you’d schedule an appointment with your doctor. So, if you want to earn healthy returns on your investment portfolio, it’s time to go see someone who truly knows the market, and how to make your retirement dreams a reality.
If you’ve been working to build your savings and are ready to invest, talking to an advisor can help you carve out a plan to get you to the retirement lifestyle you’ve envisioned. Just getting started? You can learn more about our retirement options online or stop by your local branch.