How should you plan your retirement?
FOR IMMEDIATE RELEASE:
Contact: Amanda Edmunds
I & E Insurance Agency
June 29, 2020
How should you plan your retirement ?
Now that we are all stuck at home during this medical crisis, many of us are seeing what would retirement look like , Its the prefect time to address this concern as we are all stuck in place, many of us can’t go anywhere, do anything, go anywhere do anything. So now imagine the world is back to normal you’re allowed to go anywhere, do anything but YOU HAVE NO MONEY.
If you’re bored to tears now stuck home watching TV and watching the Paint dry imagine that happening at retirement. Don’t freak out, YOU NEED A PLAN. There is a difference between saving hard and saving smart. For those people who have worked all their lives, but because they wanted to build a house, or pay for their child’s tuition they gave up all the savings they worked hard for and didn’t necessarily have much left for their retirement.
Saving smart is when you compartmentalize your savings. Call it a bucket an envelope an account, whatever separate it… You save for all events in your life in different compartments. You have one compartment for emergencies, one for retirement and others according to your needs. This will help you plan for your retirement.
Similarly, we have listed down a few more ways of how you can save for your retirement effectively and efficiently
1 Save, Save, Save
We believe that the key to having a good retirement period and living out the rest of your life comfortably is to save. When you save and stow it away for your retirement, you get to lead a happier and healthier life comparatively. You don’t need to worry about someone else providing for you. Start small, but keep it constant and hopefully by the time you retire, you will have enough.
2 Know your needs
We suggest that you start planning your retirement early. You should know exactly what your needs will be and that is how you will know how to save and how much to save. If you have a lifelong disease like diabetes or blood pressure which could cause trouble later on, then save accordingly.
3 Consider investments
Keeping your money in your bank account may not be the most effective way of saving. You can save by investing in something and hoping for a greater return. A great way would be to invest within a property or gold as these are two things you can sell easily and get a return on as well. And its not that hard, I know every penny counts. but make it a practice to round off your purchases that that change throw it in a jar, even if you found a way just to save $1 a day that a dollar more, in 30 years over $34000 even at low interest rates.
Give us a call , lets help you get started. Call us at 732-295-5584