Setting retirement goals
Planning for retirement
As you prepare for retirement, keep these tips in mind.
- Develop financial goals, and create a plan to achieve them.
- Be prudent, and watch out for people who are out to get your money. Be skeptical about financial offers that promise anything free or with little effort.
- Recognize that, as an investor, you will face risk. Diversify your assets to best protect yourself against risk.
- Before paying bills and other obligations, try to set aside money each month in accounts for your long-range goals and emergencies. In other words, budget for savings.
- Try to pay off credit card debt. The interest you pay on a credit card reduces the amount you can save for retirement.
- Try to get a job with a strong retirement plan that is either a traditional monthly retirement benefit or a 401(K) plan. You'll learn more about 401(K) plans later in this course.