| If you are looking forward to your retirement being | | | | amount you can to get the best match from your |
| funded by social security, you are going to have a | | | | employer. There are some drawbacks though, so be |
| rude awakening when the day of your retirement | | | | sure you know the terms of your plan. |
| comes around. While social security was originally set | | | | 3. Some people plan their retirement by investing in a |
| up as a way to forced retirement savings plan for all | | | | traditional IRA. With this method, you have complete |
| Americans, there may not be any money left when | | | | control over retirement planning but there may be |
| you are ready to retire. Worst for many Americans | | | | limits on the contributions you can make. |
| is that they made no financial planning for retirement | | | | 4. In an uncertain economy, many people use their |
| and are counting on getting a social security check | | | | retirement plans as a bank account to draw money |
| every month to support them through their | | | | whenever they need it or cash it out when they lose |
| retirement years. If you dont want to find yourself in | | | | a job or need money for something. If at all possible, |
| the same situation, you need to start planning for | | | | leave your retirement account alone to let it grow. |
| retirement needs now to ensure comfortable | | | | 5. Diversify, diversify, diversify. Every retirement plan |
| retirement years to come. No matter how old you | | | | should be spread out so that all your investments |
| are or how much you can afford to put aside, start | | | | arent in one basket. If we learned anything from the |
| planning for your retirement. | | | | recent setbacks in the economy, its to never put all |
| The first step to making your retirement dreams | | | | your money in one place. |
| come true is to think about what you want your | | | | 6. If you worked for a business that closed its doors |
| retirement to look like. Do you picture yourself on a | | | | (or went bankrupt), your pension may still be secure. |
| pink sanded beach in Bermuda; or on a cruise ship | | | | Do your research to find out if you have a pension |
| island hopping Greek Islands; or maybe traveling the | | | | you can rely on during retirement. |
| small towns of the United States in a RV? You may | | | | The current downturn in the economic condition, |
| only have ten years until retirement day or may its | | | | many people are nervous about investing their |
| only five. Whatever your time frame, its never too | | | | money in riskier, and potentially higher return |
| late to start your retirement investment planning and | | | | investments. Instead, they are leaving their |
| to give your money the time it needs to work for | | | | retirement monies in secure but low interest paying |
| you to help make your retirement dream come true. | | | | bank CDs or savings accounts, and having to delay |
| Here are some tips to keep in mind when you are | | | | the start of their retirement or downgrade their |
| ready to start your retirement planning: | | | | projected retirement lifestyle. If you want to keep |
| 1. Calculate how much money youll need when you | | | | your retirement on track and grow for you, but your |
| retire. This part of retirement planning depends solely | | | | are not sure where to find the best retirement plans |
| on how you want to live during the golden years. | | | | to invest your money, get some retirement planning |
| 2. If you have a 401K plan with your employer, figure | | | | advice from a retirement planning expert and then |
| that in to your retirement planning portfolio. | | | | make informed decisions to put the best retirement |
| Contributions made to 401K plans are pre-tax and | | | | savings plans to work for you. |
| thats the big advantage. Invest the maximum dollar | | | | |