How to prepare for retirement at any age
Each decade of your life offers an opportunity to reap the rewards in your retirement years. The key is to put time on your side by planning and saving as early as possible. Follow these basic principles to reach your retirement goals successfully:
Take advantage of tax-free growth by contributing earned income to a Roth IRA. Saving early and often allows money to compound over time.
Contribute as much as necessary to maximize all matching contributions offered through your employer-sponsored retirement plan. Consider the advantages of a Roth 401(K) if it is offered by your employer.
Collaborate with a financial advisor to define your retirement and insurance goals to create a strategy
Maximize contributions to retirement accounts, consolidate any accounts from previous employers, and review insurance needs. Establish a financial plan for retirement
Make catch-up contributions to your IRA and/or employer plans
Start a Social Security strategy with a financial advisor. Define retirement health care costs.
Sustain your RMDs (Required Minimum Distribution) from your IRAs and work on estate planning
Review finances with trusted heirs to help you manage and create a smooth transition of assets.
Regardless of your age, planning for retirement can prepare you for your financial future. Call our team today to schedule a no cost, no obligation appointment with one of our licensed financial advisors.