Retirement Planning & Resources

by | Jan 20, 2015 | Retirement

Are you retiring in a few years? Whether or not you are nearing retirement or starting your first job, it’s important to start planning now. According to a CBS news article posted Aug. 2014, “a survey of over 1,000 U.S. citizens found that 69% of 18-to 29-year-olds and a third of 30-to 49-year-olds have yet to put anything away for later years.”

What is more alarming is that a survey by Bankrate.com found that over a quarter of respondents age 50 to 64 have yet to start saving for retirement.

The good news is that people are starting to save for retirement earlier than in past years. However, it’s important to take control of your finances now. Below is a list of financial tools to aid in your retirement planning.

Financial tools to review and consider in your retirement plan:

401K or similar retirement plan

Social Security

Stocks

Pension

IRA accounts

Annuities

All cash, saving accounts, etc.

Overall, it is a good idea to review all of your assets and how they will support you after retirement. Why? Reviewing all of your assets will help you determine a financial plan/budget to use before and after retirement.

Want to know if you have enough money to retire? Found out using CNN’s retirement calculator. If not, start saving now or consider other retirement options such as a reverse mortgage.

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