Retirement is expensive! Step one of planning for retirement is to save as much as you can as early as you can. When you stop working, you want to maintain your standard of living. To do that you will need at least 60% of your pre-retirement income. Find out if your employer offers a 401(k) plan, it will be one of the best methods of saving for retirement. Once you don’t have to spend money on your home outright, you can adjust your monthly budget so that more of your income goes towards savings and investments.
November 30, 2015