by MyDadBlog on June 21, 2011

in Guest Post

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It is amazing how many people say that retirement crept up on them! One minute you are busy developing a career and raising a family and then the next minute, it seems you are able to retire.

Where did the time go and how are you going to cope without a regular paycheck? Now is the time to think about what retirement will mean for you, especially in financial terms.

People who are smart with money know that it pays to be prepared. Having a good pension payment and a pot of savings will mean your retirement can be a happy one.

You can do all those things that you have always dreamt about doing. Somehow, before, life always got in the way of really achieving those goals and often for good reason.

You may have made financial sacrifices to provide for your family or you may have been working so hard that vacations just weren’t an option. Retirement heralds the start of a new dawn when you get what you deserve.

Perhaps you long to travel the world and experience new cultures and languages? Maybe you have been inspired to trace your family tree and have discovered a link with another country or continent?

Or perhaps you would love to indulge your passion for the arts and begin a painting class? Or choose that shiny new sports car and enjoy long drives through beautiful scenery?

Whatever you want can be yours, if you start to prepare now. Set aside some time now to look at your financial commitments and research if you can make any valuable changes.

According to a 2008 survey by advisory firm Financial Engines, almost a third of Americans were missing out on increasing their 401(k) by a significant amount.

The financial expert Suze Orman suggests that many Americans are forfeiting essentially free money from their employer. If you contribute a certain amount to your retirement account, your employer has to contribute up to a particular amount too.

If you are not contributing enough to your retirement account, you are missing out on this valuable addition from your employers. So check your 401(k) and see how you can make this work for you.

Building up your retirement account is one of creating savings. You can also take out other types of savings accounts or invest in bonds and stocks, although some types have risk attached.

If you are paying credit card debts at a high interest rate, you may wish to take out a loan in order to assimilate these debts into one monthly payment.

This can help you avoid late payment penalties if life is hectic and you find it hard to keep on top of the different monthly payment dates.

Take a look at your monthly spending too, as often times we relax into a way of living and forget the importance of savings. A few little sacrifices here and there will soon add up in your savings account.

Remember that your retirement will come round sooner than you think. So be prepared and have a lovely pot of savings waiting for you. Then enjoy everything you have worked so hard for!

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