Planning for Retirement

Good news! We’re living longer.  The bad news?  We’ll need more money to be able to live the way we’re used to living.  The need to plan for retirement is more critical now than at nearly any other time in history.  Sadly, collectively, we’re not doing well.  There are ways to prepare now so that the so-called “golden years” are indeed golden.  For example, start saving now.  The earlier you begin, the more money you will have available for current needs and the less money you will need to invest on a regular basis.  If you don’t already follow a budget, now is the time.  If you don’t know where your money is going now, it will be nearly impossible to properly plan for retirement.  Also, compute your social security benefits.  This can easily be done by requesting a Personal Earnings and Benefit Estimate Statement (PEBES) from the Social Security Administration.  Additionally, get some expert advice.  You may decide to hire a financial planner or investment counselor or do the research on your own.  Whichever course you chose, do it now.