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.
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