Retirement should be an exciting time, but you’ll need to plan for it.
Otherwise, your retirement may not stack up to expectations.
Begin by outlining how much you think you’ll spend in retirement.
You may plan to live simply or travel worldwide.
Either way, calculate how much income you’ll need each year and the total years you’ll be retired.
Next, think about how much risk you’re willing to take.
Of course, the biggest risk is not reaching your retirement goal.
So, you’ll want investments that help grow your savings but without so much risk that you feel nervous.
A financial advisor can help you find investments that work for you.
If you’re not already saving, start now.
The earlier you begin, the better.
If you’re 50 or older, you can make pretax catch-up contributions to retirement plans.
Retirement should be a time to enjoy what you’ve worked so hard to earn.
Planning for what you’ll need and protecting those savings can help ensure a comfortable future.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson, and Hawes Dickerson. Members SIPC.
