Beware of Retirement Planning Mistakes

Are You Saving Enough?
If you aren't saving for retirement, you aren't likely to ever have the money you need to enjoy a retirement lifestyle. To figure out how much you need to save, it's a good idea to use a retirement planning calculator. Think about your long term goals and consider how much money you'll need to accomplish them. Use a reliable calculator --or the advice of a qualified retirement planning expert -- to figure out how much you need to start saving. Once you have an idea of what you need to save, start making forward progress immediately.

Are You Making the Most of Your Employer Sponsored Qualified 401(k) Plan?
If your company offer a matching program for 401(k) investments and you aren't taking full advantage, you may as well be throwing money in the garbage. Not only is your company giving you free money, you're able to enjoy that benefit tax free. What's a better retirement planning option than that?

Are You Making Excuses to Avoid Saving for Retirement?
If you think you're too young to start saving for retirement, you're making a serious mistake that could literally cost you millions of dollars over your lifetime. If you've put off saving until you hit middle age, you might be using the excuse that you're too old to start saving. While it would have been better to start saving sooner, certainly it's never too late to begin -- and the sooner you start, the better off you'll be.

The fact is that no matter what age you are, saving for retirement is a wise thing to do. It's foolish to jeopardize your future and your ability to retire one day. If you keep putting off saving for retirement, it will become a non issue. Past a certain point, your only retirement planning option will be winning the lottery -- and that's certainly a long shot for anyone!
 



 
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