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Today, more than ever, planning for retirement is a
necessity. The combination of Social Security and company
retirement benefits is often insufficient to provide
the necessary income to enjoy a comfortable retirement.
That’s why it’s never too early to start
thinking about saving for retirement.
Along your journey, you’re bound to encounter
an array of financial challenges. You must plan ahead
by setting goals and deciding how they will be met.
Retirement planning means not only getting ready for
a lifestyle change, but also accepting a changing financial
picture. A successful financial strategy can mean placing
your spouse of some fifty years in a nursing home with
a pleasant, home like atmosphere and superior private
care vs. being forced to choose a “no-frills”
nursing home. Or it could mean the difference between
dining out more frequently vs. preparing more meals
at home. Many retirees find themselves balancing between
having a sufficient lifestyle and lacking some of the
comforts that make life easier. This “give and
take” could be alleviated if the proper planning,
savings, and investing are done ahead of time. The fact
that Uncle Sam allows tax-deferred accumulation to save
for retirement through certain funding vehicles, such
as IRAs and employer-sponsored retirement plans, provides
an ideal stimulus for increasing the amounts going into
these plans.
If you are financially independent at retirement, it
will never be a period of boredom and disenchantment.
Rather, it can become a time of new opportunities when
you can try a second career, develop a new lifestyle,
or pursue new dreams and goals. You can start now to
make your retirement years your most stimulating, fulfilling
time ever—truly your golden years.
02/03 - BACK
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