Retirement Planning Tips and Resources by Simon Volkov
Retirement planning should be at the forefront of goal setting activities. Unfortunately, many people place planning for their future on the back burner because they do not possess the financial means to contribute to investment plans. Today, millions of U.S. citizens can barely afford to feed their family, let alone set aside money for their golden years.
Ideally, retirement planning would begin at birth. Imagine how large your retirement fund could be if your parents contributed just $10 a week starting the day you were born. The reality is, people well into their 40s and 50s are still unable to contribute $10 a week; leaving them extremely unprepared when their working days are over.
One misconception of Planning For Retirement is that it is reserved for the Wealthy. Everyone should commit to setting aside money in a high interest savings account for the days when they are no longer able to work. Many opportunities exist to profit from financial, real estate, and business investments. It’s amazing what can be done by saving a measly $10 a week.
Obtaining credible information is the key to success. Plenty of information can be obtained via the Internet or by consulting with professional retirement planners.
One of the most reliable retirement planning resources is the American Association of Retired Persons. Their website offers comprehensive step-by-step guides, along with downloadable financial worksheets and complimentary brochures.
Visitors can learn about Simplified Employee Pension (SEP), Individual Retirement Accounts (IRA), stocks, bonds, low-cost index investments, mutual funds, real estate investment trusts (REIT) and additional wealth-building tools.
The United States Social Security Administration offers an abundance of financial tools and retirement planning tools via their website at SocialSecurity.gov. SSA worksheets help individuals determine the amount of social security benefits they will be entitled to at retirement.
The U.S. Financial Literacy and Education Committee founded MyMoney.gov to provide money management tools to U.S. citizens. MyMoney.gov offers substantial financial information, a complimentary toolkit which includes a Consumer Action handbook, and a variety of personal finance resources.
Many employers offer complimentary consultations through human resources department. Some employers implement Financial Planning Education workshops conducted by experts.
Most banks and credit unions offer complimentary consultations to their customers. Stop by your local bank to pick up retirement planning brochures or arrange a meeting with the branch manager. Most financial institutions offer Online Financial Planning tools at no charge.
Lastly, investment firms are an exceptional resource for trustworthy retirement planning advice. Professional investors can offer guidance in developing diverse financial portfolios to ensure you obtain short- and long-term goals.
Now is the time to become educated about opportunities which allow your money to work for you so you can sit back and relax when it is time to retire. By planning ahead you can rest at night knowing you are prepared.
About the Author
Author and investor, Simon Volkov has Simon has published hundreds of articles on topics ranging from retirement planning to personal money management. Discover retirement strategies at www.SimonVolkov.com.
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