Monday, January 26, 2009

Retire In Ten Years

Retire in Ten Years - Planning ahead

Planning to retire soon, or a distant someday? If you're discouraged about the prospects of retiring, you're not alone: Only 18% of workers are very confident about retirement, according to the Employee Benefit Research Institute.

With all the economic gloom-and-doom you hear these days, no wonder so many people feel uneasy. Your best bet? Make sure you have a solid retirement plan – starting today so that you can retire in ten years.

calculate your retirement savings The first step is to calculate your retirement savings. Ask yourself these questions:

  • How much do I have?
  • How much will I need to retire in tens years and live comfortably? (Be sure to include healthcare costs)
  • How much time do I have to create a nice nest egg?
  • Where will the money come from?
  • Social Security (go to for an online benefits calculator)
  • Pension(s)
  • Investments
The Employee Benefit Research Institute survey found that when people calculated their retirement savings, it had a strong effect on their behaviour: 44% changed their retirement planning strategy and 59% started saving and/or investing more.

Work longer
Many people of retirement age are finding that they must work longer than they had originally expected. Sometimes working a few extra years can make a huge difference when it comes to retirement funds. If you have to continue working to retire in ten years, there are some steps you can take to maximize your money:

  • Contribute the maximum amount to Individual Retirement Accounts (IRAs)
  • Contribute the maximum amount to your employer-retirement plan (if you're no longer working, you can roll over your 401(k) to an IRA)
  • Try to keep at least three months' expenses in a savings or similar account.
  • Seek expert advice
When it comes to financial planning, most of us could use some expert advice. And because life expectancy keeps increasing, seniors are finding themselves retired much longer than previous generations. This means the retirement plans of yesterday won't work for today – or tomorrow. Be sure you're prepared for this extended phase of life by consulting a financial planner (check credentials before hiring anyone). He or she will be able to assess your specific situation and offer the best suggestions to fit your needs.

Whether you plan your own retirement strategy or seek expert advice, the important thing is to plan. Take steps today so you'll be retirement ready tomorrow.

Are You ready to retire in ten years?

Planning is the name of the game

Employment in the retirement age
Are you 50+ and looking for a job?
Visit these web sites to find job postings, career advice and helpful job-search tools.
Or start a home business which can help you >retire in ten years.

Tomorrows Home Business has a business model prepared by economist Dr Raymond Jewel, and which can be customised to meet with your own circumstances and required income. You are invited to attend a live presentation every Thursday at 6PM EST in our conference room at select room log-in from top menu and enter first and last names and the password success.

David Ogden
TriVita Independent Business Affiliate 13142173
Phone 1-386-308-1956
Skype Seadogs11
How to Retire In 10 Years
Web Prosperity Review

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