Planning for Retirement the Right Way
You will likely never happen upon the website, blog, or social media account of a finance guru that says, “Hey – don’t have a plan for retirement.” That would obviously be terrible advice. However, as with all things in life we should be doing things the smart way – so that we are not hyper-focused on one thing in particular and missing out on living our lives in the right-now!
As I have mentioned before, I tend to see a lot of talk around the web about people stressing out about their retirement future – so focused on it, that they are not living life in the present. Can you imagine for just a moment how much of your life you would waste if you spent the next fifteen years dreaming about retirement, only to get there, and be stuck dreaming of the past… because your future is now?
Luckily – time is still on your side and you can take actionable steps to not only work on securing a stable financial future, but also enjoy your life NOW.
- Gather your family up for a pow-wow. Discuss your savings plans and retirement goals, and what you can do today to achieve them. It’s important for everyone in the family to be on the same page about your financial goals and priorities. If you can achieve a debt-free life now – you can enjoy the years up to your retirement much more.
- Get Free Money – If your employer offers matching funds for your retirement savings plan, make sure you’re contributing at least enough to get the full employer match.
- Use Your Hobby – Brainstorm ideas for earning money in retirement, such as turning a hobby into a source of income, or taking on seasonal part-time work. If you enjoy working now (or even if you don’t), your retirement years may lend time for you to really do something you love while also making extra cash.
- Do Something Today – Visit AceYourRetirement.org to get your personalized action plan in just three minutes. Your digital retirement coach, Avo℠, will reveal the top three simple, practical things you can do right now to make sure your retirement plan is on track.
Taking steps to take control of your retirement planning could have a positive impact in many areas of your life. According to a recent survey from AARP and the Ad Council, more than half of people in their 40s and 50s say that feeling more confident about saving for retirement would help them feel less stressed (54%). And 46% would be happier knowing they are taking care of their family’s future.
I got the chance to try out chatting with Avo at AceYourRetirement.org when I went to Fincon 2017. It only took about 3 minutes and Avo (a finance bot) analyzes your answers and gives you 3 action items to consider. AceYourRetirement.org is part of AARP and the Ad Council, so they aren’t trying to sell you anything… it’s just free advice!
C.J. is the blogger behind the Vow of Practicality. “Let’s grow your wealth, increase your productivity, and maximize your happiness.”