32 C
Lagos
Saturday, March 28, 2020
Advertisements

Start Your Retirement Planning Now

Featured Posts

Is The New Samsung Galaxy S9 Worth an Upgrade from Galaxy S8?

While you will feel so good owning a Samsung Galaxy S9, the idea of the new features, the pride of being one of the...

Schwinn A20 Recumbent Exercise Bike Review

When it comes their cycling equipment, Schwinn is renowned throughout the industry; the Schwinn A20 Recumbent Bike offers you unparalleled excellence and world-class training.With...

5 Awesome Hidden Features on Android Q

Google has introduced to the world its latest version of Android, which will be known as Android Q it will be called that until...

Reasons Why You Should Upgrade to Microsoft Office 2016

If you are using Microsoft Office 2010, 2013, then it's time you move on to a newer version. I recommend Microsoft Office 2016.You might...

Kuvings NJ-9500U Stainless Steel Centrifugal Juicer

The Kuvings NJ-9500U Stainless Steel Centrifugal Juicer is sleek and powerful machine that is capable of producing 30-50 cups of juice continuously without cleaning....

Now that you have a family, there are so many things to think about. You want to make sure everyone is healthy, happy, and enjoying life.

Advertisements

Your thoughts of the future are focused on having enough money for braces and college educations. Parents tend to put their own needs on the back burner, but retirement planning is something you really need to start.

Parents now have a tougher time than previous generations. Gone are the days of guaranteed pensions and health insurance for life funded by employers. We need to take charge and fund our own retirements.

Try to get a clear picture of what you have already. Add up your savings from all your accounts. Track down any retirement accounts from old jobs and bank accounts you may have forgotten about because they had very little money in them when you moved. You may have more money sitting somewhere than you think.

Save as much as you possibly can now in a retirement fund. You’ll be amazed at how much interest makes your money grow. It is best to diversify the investments in your account. Spreading your money among different investments in a mutual fund is less risky.

There is a lot of guess work involved in planning for retirement, but you need to do the best you can to try and predict what you will need in the future. Here is where an expert or an online calculator can come in real handy.

Try to figure out how much of a nest egg you will need by anticipating your annual expenses during retirement. Subtract your expected social security, pension, and retirement accounts.

Multiply this number by 25. This will give you an idea of how much you will need. Following this method you will be able to spend 4% a year without running out of money.

That is just one method of calculating for retirement. There are so many variables that must be considered that using online calculators and experts bears repeating.

After you’ve figured how much you’ll need for everyday expenses, you’ll also want to consider the fact that you may need more money for medical bills. Today parents are far more active than ever before and they live longer, too.

Advertisements

Retirement is also a chance to do things you always wanted to do, but never had the time. You’ll spend less money on work related things like transportation and clothes, but more on travel and hobbies.

You might want to take a college course or have extra money to spend on the grandkids. Think about saving enough money to buy that motorcycle or RV so you can enjoy your retirement!

Advertisements

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now.

Startimes Subscription Prices, Packages and Channels List in 2020

StarTimes Nigeria is one of the popular cable TV providers in Nigeria. This service is a subsidiary of a Chinese based company called Startimes...

6 Different Types of Car Engines

An engine is the soul and heart of your car simply because it’s the most important part of a vehicle. It acts as the...

DStv Channels List, Packages and Prices in 2020

Thousands of people in Nigeria have put their trust in DStv to provide them with the very best of television shows and programs.DStv (Digital...

Netflix Download Limit: What Is It and How You Can Get Around It?

Netflix introduced its 'download feature' for offline viewing back in 2016, allowing its users to download content and enjoy it offline while they are...

Best Low Size PC Action Games For Your Old PC/Laptop With Low Specs

Gaming time is one our favorite time and nothing beats the ability to play high-quality games on our PCs but like some of our...

Screen to Body Ratio: 22 Smartphones With the Highest Screen to Body Ratio in 2020

Screen to body ratio on a smartphone screen recently turned into an important thing to consider when comparing smartphones.  It became more important after...

10 Best Places to Download Bollywood Movies

Do you spend hours watching Bollywood movies as I do? Have you been in search of the perfect sites to download the best Hindi...

GB WhatsApp, WhatsApp Plus and OG WhatsApp Tips and Tricks

Checkout the new GB WhatsApp Tutorial.Hello, welcome to WhatsApp Plus, OG WhatsApp and GB WhatsApp tips and tricks. For the sake of this article,...

5 Best Blood Pressure Apps for Android

Blood pressure is the pressure the blood applies that on the walls of the vessels they use in travelling. There are two conditions relating...

How to Fix Home Key, Recent Key and Notification Bar Not Working?

There is a bug in the Android OS that dates back as far as the Lollipop Version and it is one of the most...

6 Different Types of Motherboards

Motherboards are considered as the heart of any computer you use. This is mainly because they contain important components such as the memory and...

Uses and Functions of ROM (Read-only Memory)

A computer is a very important device and besides being the best gadget to play your favorite video games or watching your favorite movies,...

All iTel Smartphones Firmware/ OS Updates (Free Download)

Good day and welcome. I used to think Itel doesn't make patches or updates for their devices as the update page in settings always...

Sitophilia: Sexual Arousal Through Food

Some people with fetish for food go to the extent of being sexually aroused or satisfied by it, though in the mythical sense proves...

The Best Films of 2019 That Are Available for Download

Hey guys, so 2019 was a truly amazing year for the movie industry world wide, and there's proof of that in the amazing films...