- Retirement: A Lifestyle Choice
- Myths of Retirement Planning
- Retirement Sources of Income: The Three-Legged Stool
- The Case for Pre-Tax Savings
- Basic Retirement Guidelines
- Inflation: The Incredible Shrinking Monster
- Big Picture Preview
- Calculating Your Personal Retirement Assets
- Beyond the Basics: Bulletproofing Your Savings
- Saving More for Retirement
- Making Up the Shortfall
- Simple Tax-Advantaged Planning Strategies To Consider
Here are six basic guidelines to keep in mind when developing your personal retirement strategy.
Guideline #1: Pay Yourself First. Establish a dollar amount you can save comfortably every month. Always remember, you are entitled to keep a portion of what you earn.
Guideline #2: Don't Bank on Your House for Retirement Income. A house is primarily a home... not an investment for your retirement. While you may eventually trade down when you retire, consider the equity in your home an emergency reserve, not a primary source of income.
Guideline #3: One Good Place to Save for Retirement Is a Company Retirement Plan. Remember to consider other tax-advantaged savings vehicles as well.
Guideline #4: Make Retirement Your First Savings. If your disposable income is limited, save money in your retirement plan before funding long-term goals such as your child's college education. Remember, your retirement is the largest expense you'll ever have to fund.
Guideline #5: Avoid Taking a Retirement Plan Distribution before Retirement. Transfer your plan's savings to an IRA or a new company retirement plan if you change jobs. Don't consider withdrawing money until you've exhausted all other possibilities.
Guideline #6: The Best Time to Start Saving for Your Retirement Is Right Now. Accumulating enough money to retire comfortably takes time.
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Financial Learning Center content created by TrueBridge, Inc. The information provided is based upon sources and data believed to be accurate and reliable. The content contained herein is intended for information and illustrative purposes only, should not in any way be construed as a personal recommendation, and should be used in conjunction with individual professional advice.
