Retirement Plans

Retirement Plans

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Retirement Plans

It is important to start thinking about retirement and estate planning as early as possible. The early you start thinking about retirement the early you start savings and the more money you will save for your retirement. When at 20’s, it is important to start planning on your paychecks and take action on the amount to be saved for retirement. This will give time to save the amount that will be able to cater for your needs after your retirement. Some people wait until they are nearing their retirement that’s when they start thinking about retirement which is very late and wrong. They lack enough time to save the right amount to sustain them after retirement and this may lead to stress, hypertension and other related disease to tension. Estate planning is one of the ways of securing a place after retirement which is also done early in advance. You should then start taking action immediately after you have saved some money (Kragie, Gerstein & Lichtman, 2009).

Conclusively, start planning on the methods of spending your savings towards your retirement. You should take action immediately after you start saving the money. You start taking steps to your retirement the moment you define it. The moment you already know how you would like to spend your retirement gives you a guide on the steps to take. It is also important to take stock of the important assets which includes the assessment of the money saved in the bank and also that saved for retirement. Evaluating your health is also a step towards your retirement through medical checkups. Have a social security to pay for the basic essentials and also for supporting your retirement requirements. In your retirement plans, you should include networking strategies in order to share skills and knowledge with other people about how to carry out your retirement. This encourages you to look for your interest and chose the best option and action towards your retirement. Make decision on how much you want to save for the retirement and make commitments towards fulfilling them. Prepare for the unexpected and ensure that you stick to your plans. Having taken these steps in hand will help you plan for the best during your retirement. This will ensure that you are ready even if the retirement comes early in advance because you have already planned for it (Kragie, Gerstein & Lichtman, 2009).

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References

Kragie, E. R., Gerstein, M., & Lichtman, M. (2009). Do Americans plan for retirement? Some recent trends. The Career Development Quarterly, 37(3), 232-239.