When considering where to begin, it’s necessary to ask yourself a
number of questions about how you view your retirement years.
Consider how much you will need to live comfortably when retired.
The word “comfortably” is key. If you’ve become accustomed to
eating out each night or traveling when the urge hits, consider what
you will need to maintain such a lifestyle, if desired.
Think about your goals for retirement. If a job or financial
burdens have kept you from doing some of the things you’ve always
wanted to do, such as travel, research how much you’ll need to have
each month in order to attain specific goals, such as an excursion to
Europe or a motorhome.
If health is a concern for you or your spouse, consider what you may
need to set aside for nursing care or residence in an assisted-living
facility. Will you need long-term care insurance or will your
savings vehicles be sufficient in case an emergency arises?
Once you’ve determined the cost of the necessities, dreams, and wishes
for your post-retirement life, investigate which financial tools can
best assist you. If you’re starting your retirement planning at a
late age, you may need to choose products that will require you to
assume more risk but allow you to acquire the funds you’ll need more
quickly.
Many individuals find the whole world of retirement planning to be
quite overwhelming. If that’s the case, consult an investment
planner or your tax consultant for information on which products would
best assist you in reaching your goals.
Home
Reader Comments 
Related Links 
Recent Posts
By: David Posted: Feb 06 2006 02:42:51 AM