Investing Advice

Other thoughts about your retirement needs

If you are over 55 and want a prosperous retirement, itís not too late. Hopefully you have a relatively small house payment and youíre done paying for your childrenís college and weddings.

You are probably earning more than you ever have, but spending it just as fast. Now is the time to spend way below your means and save like crazy. When you retire, youíll be used to a simpler lifestyle.

Donít buy that new car or take that trip. If your house is bigger than you need, sell it (put all the money into a mid-cap index mutual fund) and rent. Big houses burn cash for maintenance and property taxes.

When you retire, consider buying a home or condo in a city in an inexpensive part of the country or you state.

Now is the time to max-out the potential of your IRA or 401k, including taking advantage of the new catch-up provisions that let you save more.

And stay away from trips to Atlantic City, Las Vegas, and those pesky Indian casinos! And if you are really serious about saving money and enjoying a long-healthy life, quit that smoking habit.

One last thought about retirement

You donít have to retire with $1,000,000.

Other Retirement Planning Topics:

  1. Retirement Planning
  2. IRAís (Individual Retirement Account) Ė Traditional IRA
  3. Roth IRA Ė Taking Money Out
  4. Employer Sponsored Retirement Plans
  5. Retirement Plans - Continued
  6. 401K Savings
  7. Notes for 403(b) Plan Participants
  8. Senior citizens retirement resources
  9. Retirement Plans for Small Business and Sole Proprietors
  10. Simplified Employee Pension (SEP) IRAs
  11. SIMPLE (Savings Incentive Match Plan for Employees) IRA
  12. Your own 401(k) for the self-employed
  13. Employer Retirement Plan Vesting and Contribution
  14. Forgotten Retirement Benefits
  15. Other thoughts about retirement accounts
  16. Other thoughts about your retirement needs

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Who's Not Investing?

Millions marry and start families each year without taking basic steps to make sure their future, as well as their children's, is financially secure.

According to a recent survey by Princeton University and the Consumer Federation of America, 70% of households with incomes under $50,000 a year have retirement savings of less than $5,000. This same report said "most Americans are living paycheck to paycheck".

Learn more about how you can plan, save and invest smart for your family's future.

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