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HOW TO GET READY FOR RETIREMENT

By
Real Estate Broker/Owner with Desert Pride Real Estate Brokerage , LLC BR638468000

 

For most people, retirement feels like a long way off. But, if you don’t start preparing as early as possible, you may find yourself in a place of financial insecurity when the time does come. To avoid this, consider implementing the following tips.

  1. Calculate your target savings. In general, it’s recommended that you save between 10 to 15 percent of your income for retirement. However, you can always use an online savings calculator to determine the amount you need to save for your specific needs and goals.
  2. Contribute to your employer’s retirement savings plan. Does your job offer a 401(k), traditional IRA, or Roth IRA? Sign up and start saving as soon as they allow you to. It’s recommended to set up automatic paycheck deductions and, once the money is in your retirement fund, don’t touch it.
  3. Take advantage of employee benefits. Many employers offer matching which generally requires you contribute a certain percentage of each paycheck and your company will then contribute a matching amount with funds of their own. They might also offer health savings or flexible savings account. By contributing to these accounts, you reduce your amount of taxable income, allowing you to save more money.
  4. Pay off your debts. Start by paying off any high-interest credit card debt first. Then look at other debts, such as student loans and car payments, and make a plan for paying those off incrementally.
  5. Reduce daily spending. Although this feels like a no-brainer, spending your money thoughtfully now can make a big impact later. Seek out areas of your life where you can
Posted by

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Deb, we all will retire eventually and good to get your affairs in order including all your tips.

Feb 08, 2022 07:19 PM
Deb Smith

Glad you enjoyed. 
My mission is to educate and connect our community to resources that they can trust to meet their goal. More to come 


Im also building a network of Realtors that can work together to provide service for their clients relocating 


kindly post your contact inf and your area


thank you for your post

Feb 09, 2022 08:05 AM
John Pusa
Glendale, CA

Welcome to the ActiveRain Community. Congratulations on your first post.

Feb 08, 2022 08:07 PM
John Pusa
Glendale, CA

Hello Deb Smith thank you for the very valuable report about how to get ready for retirement.

Feb 08, 2022 08:08 PM
Deb Smith

Glad you enjoyed. 
My mission is to educate and connect our community to resources that they can trust to meet their goal. More to come 


thank you for your pos

Feb 09, 2022 08:01 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Feb 09, 2022 02:17 AM
Deb Smith

Glad you enjoyed. 
My mission is to educate and connect our community to resources that they can trust to meet their goal. More to come 


thank you for your post

Feb 09, 2022 08:02 AM
Roy Kelley
Retired - Gaithersburg, MD

Best wishes for great success with your blog.

Use your blog settings to create an automatic signature for your posts. Readers want to see your contact information.

Feb 09, 2022 03:30 AM
Deb Smith

Thank you! Appreciate the support

Feb 09, 2022 08:01 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Deb and Welcome to the Rain where we all learn from each other and help each other.  Make it a great day!

 

Feb 09, 2022 08:47 AM
Deb Smith
Desert Pride Real Estate Brokerage , LLC - Phoenix, AZ
Transactions To Order: Sell and Buy Your Way

Thank Youi Sir

Feb 09, 2022 11:04 AM
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I have often said that the only reason to work hard and long is so that one can ultimately enjoy retirement.

Feb 12, 2022 01:10 PM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Deb Smith welcome to ActiveRain, and congratulations on successfully posting your first re-blog on this site.

Feb 27, 2022 04:47 PM
Gwen Fowler SC Lakes & Mountains 864-710-4518
Gwen Fowler Real Estate, Inc - Walhalla, SC
Gwen Fowler Real Estate, Inc.

Deb Smith, what a wonderful and timely post.  I really enjoyed reading this.  Good luck on the blogging, can't wait for the next installment.

 

Nov 22, 2022 05:33 AM