Planning for Retirement

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For as long as I can remember my parents have drilled the importance of saving for retirement in my head. The value of putting money away, investing in mutual funds, and saving 15%—still striving to reach that last one—of my earnings are habits for me. Talking with friends the other night during dinner, I was surprised to learn many had not started to save for their retirement. Through our conversation it occurred to me that many had not been as lucky as me when it came to having the guidance to set up a savings plan. 

If you are lucky to work for an employer who offers a 401(k) plan, get enrolled now—if you are not already. But it is becoming all too common to hear about companies that do not offer that option. Which means you will need to prepare for retirement without the 401(k). 

When setting up your retirement plan, ask yourself: What do I need to do to achieve my retirement goals? If you are not sure, talk to your financial adviser and if you don’t have one start asking around, who does your friends and family use? No help there? Check out Dave Ramsey’s Endorsed Local Providers to find someone who you trust. Some things to remember when looking for a good financial adviser is to find someone who will explain the complex issues in a way you can understand.