Create the retirement that you want by saving NOW!
Ahh retirement, when you can finally kiss that alarm clock goodbye. But before that can happen, you need to plan. Follow these tips for how to get started at any age.
These days, the average age Americans retire at is 61, according to Gallup's most-recent Economy and Personal Finance survey. But before you can hit the golf course at 10 a.m. on a Tuesday or go for a week-long spa retreat with your girlfriends and really savor your retired years, you need to plan, and that planning should start early.
Retirement planning should start with your very first job, Join your company retirement plan — even if they don't offer a match.
And if they don't offer a retirement plan, open a Roth IRA and fully fund it. Every year. You can contribute $5,500 per year.
Make it a priority.
Just as it's never too early to start investing in your retirement, saying "it's too late to start" is also never a valid excuse. Even if you're approaching 50 and have yet to plan beyond Social Security and — if you're lucky — a pension, experts suggest you don't get too anxious — as long as you take some kind of action.
You can start building that nest egg no matter what your age.
What Every Woman Should Know
1) Women live longer as a rule, so they need to save more for a longer retirement.
2) Many women spend fewer years in the workforce and in many cases earn less than men even for the same job, which contributes to lower pension and Social Security benefits.
3) Lower pension and Social Security benefits mean many women may need to invest more aggressively and begin contributing to their retirement savings as early as possible.
4) Since females tend to outlive males, they should be actively involved in the retirement/financial plan for the family to ensure joint assets will not be wiped out should their spouse incur significant medical expenses, leaving them with little to live on. With the added protection of life insurance to cover loss of assets and income as well as long term care to is a must have.
Vasilios "Voss" Speros 602-531-5141
#lifeinsurance #RetirementStrategies #SperosFinancial