Things to Think About in Retirement

Many people spend their entire lives planning for retirement – from saving  and working hard, to planning out trips and envisioning life beyond the working world.  However, with the economy as volatile as it is, there have probably been a few times that you’ve looked at your portfolio and watched its value plummet.  It is this unexpected “stuff” that makes retirement planning so hard, and makes thinking about it challenging from time to time.  As such, here are some things to think about when you’re planning to retire.

Setting Goals

An interesting article from SmartMoney, How to Catch Up on Retirement Savings, highlights the importance of planning and setting goals for yourself and your future.  Part of setting goals is thinking about what you will do when you can no longer care for yourself.  It is important to think about these things when you’re in good health, so that you already have a plan for when you’re not.

Getting Insured

As such, it is important to consider options like long term care insurance, which can help you deal with the rising cost of health care in the United States.   It is a known fact that the cost of medical care has been rising dramatically over the last few decades, and it doesn’t look like that trend is going to stop any time soon.  As such, you need to make sure that you are insured should you require any type of care in the future.

It is also important to have conversations with your loved ones to let them know what your plans are and what you want.  Getting long term care insurance and planning for long term care issues is something that the entire family needs to know about so that they can help and support as needed.  And once you’ve decided what you want, you may even want to get an advisor to help you make the right financial decision to match your care needs and wants.

Post by Robert

3 Quick Steps to Start Saving for Retirement

While we are all struggling to pinch pennies every chance we get just to make ends meet every month, we also need to keep our futures in mind. Saving for retirement is often something start thinking about too late. The sooner you start saving for retirement the better and more comfortable your retirement will be.

Don’t let planning for your retirement be postponed simply because you find it overwhelming either. There are three quick steps anyone can take to begin saving for the retirement they always envisioned:

Set Goals

Before you begin saving for retirement, you need to envision how you want to live out your retirement. If you want to purchase a piece of land and live out your days there, then you need to budget for that. If you want to travel the world and experience numerous adventures, then you need to budget for that. Different goals have different prices so determine what your goals for retirement are first.

Do the Math

Once you determine your goals, you need to determine how much you will need to save monthly in order to reach your goals. While doing all this math may sound intimidating, online resources, such as Retirement, can help you calculate your monthly savings needs.

Start Saving

Once you know how much you need to save each month, you need to start making monthly payments into your retirement account. Don’t let other purchases get in the way of making these payments into your retirement account each month. Every penny counts, and you need to treat paying your retirement account just like you would paying any other bill. Every month set the money aside, and pretend like you are paying it to a debt.

Saving for retirement isn’t difficult, but unfortunately doing so is often postponed. Many are overwhelmed by the task of planning for retirement and others simply choose to enjoy their money now. However, retirement planning is a must, and even after calculating your retirement yourself, it is still a wise choice to visit a professional financial planner. These individuals will be able to help you see unforeseen costs such as healthcare and assisted living, and will also help you better account for inflation so that your retirement savings is as accurate as possible.

Don’t wait until you are 5 years from retiring to worry about your retirement. There are hundreds of free resources online to help you get started, and to make retirement planning easier. You’ve worked your whole life so make sure that you are saving to afford that retirement you always wanted.

Guest Post by Jessica

Get FREE Professional Retirement Advice!

Yes, that’s right. Free financial retirement advice from professional (normally) fee-only financial planners. Kiplinger and the National Association of Personal Financial Advisors (NAPFA) are teaming up to bring the Kiplinger’s Jump-Start Your Retirement Plan Days. Just call 888-919-2345 between 9 am and 6 pm eastern time on Friday, August 17, and Thursday, August 30.

You can also ask your questions by email ( and a NAPFA advisor will reply to your question. What a great way to get some professional advice for free! And you don’t even have to pay the normal $100 to $250 an hour that they charge! So get your questions ready!

Source: Kiplinger