Own Your Financial Future: Retirement Planning

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If you are beginning or continuing to invest in yourself, there is a good chance that you are doing it to help ensure that you have more options for yourself personally and professionally in the future, and that in doing so you will improve your financial situation. Investing in yourself allows you to take control of your future by determining where you are today and identifying where you want to go and how to get there. Setting goals and measuring their progress is key to success in any area you are focusing on improving, especially your finances. Although there are many financial demands that we face every day, it is so important to begin saving, meet with a financial advisor and start investing your money. If you want to create a better life for yourself, you have to be smart about your finances and your future.

It can be hard to think about saving for retirement when you are in your 20’s or 30’s, but it is important to create a baseline for saving for retirement as soon as possible. According to Time, 1 in 3 Americans across all ages do not have any money saved for retirement, and 56% have less than $10,000 saved for retirement. For Millennials, saving as little as 5% each paycheck can add up to make a big difference long term. Make sure to take advantage of any employer matches, and automatically transfer funds from your paycheck to your retirement fund so that you do not even think of that money as disposable income.

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It is so easy to focus on the present but I urge you not to procrastinate. Start today by talking to your employer or financial advisor about your options, or start consistently putting even a small amount each month into savings. A small amount may not feel like much is happening in terms of growth, but 20 or 30 years from now, you will be thankful that you started. Personal development is about seeing the potential for yourself in the future through things you are doing today to make it happen.

When you reach retirement age, you are still going to want to do all of the fun stuff you do now like travel, pick up new hobbies, or start a new business. Make sure you have enough saved up to finance your dreams. Start now! Don’t fall behind, your future self will thank you!

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