Last updated on January 2nd, 2020 at 02:45 pm
As adults there are MANY conversations that are difficult to have, be it with your kids, your spouse, your parents, or even family and friends. But one of the most difficult things to think about, let alone talk about – you guessed it – money. Savings, retirement, 401K, Thrift, IRA – is there a song about these things? How do you know what is good, what will grow the biggest, the fastest, or at the right amount? How in the world do I know how much money I would need to live if I don’t even retire for another 35 years?
These are all valid and completely normal questions. We are all about saving around here, but saving money on groceries, clothes, or other small purchases is something that seems easy to tackle on a quick, short-term basis. Saving for retirement somehow feels SO much bigger and more daunting.
I know we are all so busy with kids and homes and work, but our financial futures are way too important to keep putting off. Whether you want to or not, you will get the abrupt wake-up call, whether it’s your “babies” leaving for college, or when you see that big college tuition bill, or you realize your 401K balance isn’t what you’d like it to be. Don’t let your future be decided for you, put yourself in charge.
Pop over to AceYourRetirement.org, and get personalized, simple tips on how to jumpstart your retirement savings and make sure you are on track. As you might know, college tuition is going up all the time. My husband and I are trying to save for our retirement, but at the same time, want to contribute to my son’s education so he doesn’t take on too much student loan debt. It was so helpful for me to see a couple steps I could take today to help make sure my family is on track for a more secure financial future.
Here are a few tips to consider to help you maximize your retirement savings:
- While gathered with your family for the holidays, discuss your savings plans and retirement goals, and what you can do today to achieve them. It’s important for everyone in the family to be on the same page about your financial goals and priorities.
- Start planning now what age you plan to retire and when you plan to start taking your Social Security benefits. Earning a few more years of income could really help you grow your nest egg, and delaying when you start collecting Social Security increases your annual benefit.
- If your employer offers matching funds for your retirement savings plan, make sure you’re contributing at least enough to get the full employer match.
- Brainstorm ideas for earning money in retirement, such as turning a hobby into a source of income, or taking on seasonal part-time work
- Visit AceYourRetirement.org to get your personalized action plan in just three minutes. Your digital retirement coach, Avo℠, will reveal the top three simple, practical things you can do right now to make sure your retirement plan is on track.
Where will you start with your retirement planning? What’s your biggest challenge today?
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