In a world where instant gratification is expected at every turn, the idea of saving for a goal that’s 10, 25, or even 40 years away often doesn’t have a lot of appeal. But believe us when we say it’s worth it.
You don’t have to cut every ounce of fun from your budget to begin saving for retirement. Saving even a small amount each month can make a big difference when you factor in compounding interest over a period of years. You also don’t have to start with all the answers. We can help you understand your options and customize a plan that fits.
Where to Start
Retirement plans have evolved over the years. Retirees of tomorrow are taking retirement planning into their own hands, with tools like employer-sponsored 401(k)s, IRAs, Roth IRAs, and managed accounts. Which tool is right for you? A financial advisor can help you make decisions based on your age and projected retirement date.
How much do you need?
When planning for retirement, you want to make sure your money lasts as long as you do. Using a retirement calculator can help you factor in your current age, existing retirement funds, and expected longevity to determine how much you might need to save. A calculator, coupled with the help of a financial advisor, can help you take the guesswork out of establishing your goal.
Put Time on Your Side
When you plan for retirement, the earlier you begin, the better. The rule of compounding interest says that if you begin contributing (even modestly) at 25, you will be able to save more than if you elect to wait until to begin saving until you’re 35. By planning and saving early, you will have the ability to save more and build the retirement you’ve always wanted.
We can help you plan for retirement. Whether you know exactly what you want, or need some help along the way, let us help take the guesswork out of retirement planning.