I am Under 35
This is an exciting time in your life, because you have your whole future ahead of you. Fortunately, you also have the ability to take advantage of the most powerful component of a successful retirement plan, which is the TIME to take advantage of "Triple Compounding", and watch your account values grow. The important thing at this point in time is to understand the Successful Financial Strategy Pyramid and the relationships between the various components, and then TAKE ACTION.
Traditional Retirement Planning used to talk about the Three Legged Stool approach. One leg of the Stool was your Pension, another leg of the Stool was Social Security, and the Third Leg was your personal savings and assets. For planning for your future, remember that at least 80% of your retirement income will be based upon your own personal assets - savings, stocks, bonds, mutual funds, 401K, IRA's, etc.
Learn to "Pay Yourself First", and you will have a much brighter future.
If you do not do an adequate job of "Paying Yourself First", your retirement will become a Four Legged Stool, with the fourth leg representing having to work at a job like Walmart, Wendy's or McDonanld's. You can choose make sacrifices today, or make sacrifices tomorrow. The choice is yours.
If you have not done so already, please review the Financial Management E-Seminar. When you are done, hit the "BACK" button to return to this page.
a 3 - 6 month Emergency Fund Step
Life Insurance Step
401K matched Maximize
Roth IRA contribution Start
your investment education
in savings or money market funds
adequate to help in retirement
Do I Need?
contribution ( if vesting period ok)
or Roth 401K if available
a 3 - 6 month Emergency Fund
Roth IRA contribution
Start your investment education
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