Focus on What You Can Do Now
If you feel uneasy about the days you won’t be working anymore, you’re not alone. Only 23% of workers feel very confident that they are saving enough money to live securely during retirement, according to a survey by the Employee Benefit Research Institute. Only 42% have even tried to crunch the numbers to figure out what they’ll need to cover their expenses when they retire. Without enough information, you may hesitate even on where to start.
If you aren’t confident about retirement or fall into the “unknowns” category because you haven’t created a basic plan yet, you can start preparing for the future with these first steps.
Protecting Yourself and Your Loved Ones
When planning for your retirement day, it’s easy to get caught up in the distant future and avoid thinking about current risks. Avoid this mistake by considering the financial risks you can afford and those you can reduce or eliminate.
Considering All Retirement Savings Options
There are many options that can help you save money to achieve your retirement dreams. Here are three accounts to consider.
Improving Overall Financial Well-being
Financial well-being is a term used to describe our overall financial health and is related to how prepared a person is for retirement. Look at how you’re managing your money and adopt a holistic approach to your overall financial health. Here are some easy ways to improve your sense of financial well-being and find more money to set aside for later years.
Improving your financial situation doesn’t happen overnight. But if you take a few steps from this list consistently, you’ll be on your way to retirement success.
Source: https://www.thebalancemoney.com/prepare-for-retirement-success-2894361
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