It is never to late to plan for retirement. The earlier you start, the easier it is to make sure you have the money to maintain the lifestyle you want and desire. If you do no planing or do not save enough, you might get what I like to refer to as the "blue vest" retirement. Hence you see retired people working at Walmart as greeters as well as other market places.
There are many options these days to make sure you will have the money, not run out of money you need for retirement. Take the first step now, make a call to your local adviser or at least due some research making sure who you are talking to or the material you are reading is credible.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The ten years before your retirement date and the ten years after is the critical time for retirement planning. Wherever you are in that time frame will normally allow you options. If you are ten years away from retirement start today to live on your retirement income and see how that feels. Put the difference between your current income and your retirement income into a Roth IRA. Make adjustments as necessary but get into the post retirement budgeting process as quickly as possible. Identify those skills and interests that you have that can generate additional income should that be necessary. During this period of time be particularly wary of changing investment strategies in an attempt to make up the short-fall. If you elect more aggressive strategies you could end up with an unacceptable loss.
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There are many options these days to make sure you will have the money, not run out of money you need for retirement. Take the first step now, make a call to your local adviser or at least due some research making sure who you are talking to or the material you are reading is credible.