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How to Save Money for Retirement


Successful retirement not to mention retirement planning takes more than advice and more than products. Successful retirement and retirement planning is a state of mind. How to create an atmosphere of shared goals about the future!

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Words: 355
Copyright: 2005 Marilyn Pokorney

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Saving money for retirement can be easy or difficult
depending on your current salary. If you are like 75
percent of the American population, earning just enough
money in your current job to meet your monthly bills, then
it's time to do some serious thinking on how you are going
to live when you retire.

Social Security isn't going to meet all your monthly
payments. That is, if Social Security, or some revised form
of it, still exists when your day of retirement arrives.

Here are some tips on how to save today for your future. No
matter how little, or how much, you earn today.

Estimate how much you must save to give you the income you
know is necessary for you to retire in comfort.

Experts suggest that you will need an income equaling about
75 percent of your current take home pay. Be sure to
estimate a rise in inflation which has historically been
about 5.3 percent per year.

Figure out how much of your current salary will need have to
save each year to achieve your retirement goal by counting
backward from the year you plan to retire to see how many
years you have before retirement. Include the possibility
of being on a fixed income for as long as 20 or 30 years.
Depending on how many years you have until retirement a U.S.
Treasury bond that guarantees six percent interest might be
considered, while stocks might have the potential for a
much higher return, but has a much higher risk of loss.

A financial planner, stockbroker, or an accountant, can
offer guidance, expertise and access to knowledge about
almost any type of investment or retirement planning
concerns.

Spread your money out over a variety of investments. Some
will prosper while others may fail.

Set up an automatic draft from your bank account from your
paycheck so that a portion of your income goes directly into
your retirement funds.
Pay off major debts, such as home mortgages, college loans
and other significant cash-flow drains, as quickly as you
can.

For more information visit:

http://www.apluswriting.net/finance/retire.htm

About the Author

Author: Marilyn Pokorney
Freelance writer of science, nature, animals and the
environment.
Also loves crafts, gardening, and reading.
Website: http://www.apluswriting.net




By: Marilyn Pokorney

Most people are not ready for retirement:

    And I'm not just talking about the money side of the equation.

    I am talking about having something constructive to do when you don't have to go to the office anymore.

    We recommend that you establish a communication process guaranteed to uncover what's important to you and your family - when you have all that time you always wished you had. This is the first step in setting priorities and getting buy-in from everyone, which will help you start sooner rather than later to create a plan and then execute it!

    As consultants, business coaches, and Certified conflict prevention and resolution professionals - with combined experience of over 100 years helping executives and business owners plan for their future - the one element, required before anything can move forward, is a spirit of cooperation.

    That spirit is either a natural result of an atmosphere of shared goals about the future, or it one they have refined or learned from scratch.

    Strategic Conversations is a process you can learn that will provide enhanced communications for life. Their free resources and accompanying free research report will help you establish the framework for determining, among other things, the right financial planning strategy for you right now!

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