What Did Retirement Planning Week Teach You?
BY: Bonnie Pham
The
week of April 7-11 is one that went by for most people without much fanfare.
Without realizing it, they missed what was, perhaps, one of the more important
weeks for consideration among those who are facing retirement. That week in
April was national retirement planning week, and it is one that can help you to
look to the future and plan for a time in your life that can either be
enjoyable or stressful, depending upon how you plan for it.
According
to current statistics, there are approximately 10,000 individuals who retire
from their jobs each and every day. Unfortunately, although the number of
retirees is increasing, the amount of financial planning that takes place in
advance of their retiring is on the decline. It is estimated that only one out
of every three individuals who are retiring are doing so with an optimistic
outlook for their golden years.
The
process of planning for retirement is one that can begin in a very young age.
With careful planning and the development of a budget, you can begin setting
aside for your retirement years from the time that you enter into the
workforce. Setting up retirement accounts, such as a 401(k) is something that
is typically done through your place of employment. Although most people are
not a financial expert, employees often hire companies that will assist them
through the process and in making sure that the employees are well cared for by
the time that they retire.
Something
else that needs to be considered is the retirement age. Although there are
specific ages that are established on a federal level, there is no reason that
you would need to wait until that age to enjoy what retirement has to offer.
With careful planning, it may be possible for you to retire at a much younger
age and to do so with a significant nest egg which will provide for you and
your family for the long-term.
Sources:
1.
"National
Retirement Planning Week is April 7-11" from Insurancenewsnet.com: http://insurancenewsnet.com/oarticle/2014/04/08/national-retirement-planning-week-is-april-7-11-a-486427.html
2.
"Retirement
Plan Services" from
BayPoint Benefits: http://baypointbenefits.com/index.php/solutions/retirement-services
