INVESTING: Plan for retirement checklist
It is important to start thinking about your retirement early on in your career. The sooner you begin planning for your retirement, the more prepared you will be.
- People should not rely on the government to support them in retirement anymore
- Investing in a mix of investments early on gives your money time to grow
- The compounding aspect of investing early on will grow your money substantially by retirement
- Determine early on what yearly income you want to have when you retire
- Keep in mind the effects of inflation
- Realize your investments will go up and down over time
- Putting just a bit more into retirement savings each year can make a big difference later on
- It's better to set a loftier goal for a retirement amount and try to achieve it
- It's never too late to start saving for retirement
- Once money is investment for retirement, don't touch it
- Work with your retirement plan employees to determine what your best investment mix is
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