How Long To Plan For Retirement?

  1. 61667 POINTS
    Steve Savant
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    Planning for retirement requires paying yourself first with disciplined deposits into a retirement account from every paycheck from the first day of employment. If your employer sponsors a defined contribution plan and matches a portion of your contribution, do it! If there is no retirement plan at work, consider an IRA or Roth IRA. You should face the fact that you may be working until age 70 because of the new mortality trends in life expectancy and living to at least age 90.
    Answered on September 8, 2013
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  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Retirement planning should begin now.  It is never too soon.  Retirees rarely think that they have too much money.  Because many retirement programs offer tax free compounding of earnings, the results of an early start are truly amazing.  Determine what the maximum amount you can legally contribute to an IRA, pension plan or whatever program available to you.  Try to put aside as much or that maximum amount every month.  Stick with your plan.    
    Answered on March 7, 2014
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