Getting Ahead: 5 Tips To Help You Plan For Retirement

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Retirement - the time of your life that is supposed to be spent relaxing and stress free. After years of dedicating your life to your work, this stage is meant to be one where you can sit back and enjoy all else that this life has to offer. However, although one would assume that this period is where our worries are limited, all too often, people still find themselves carrying heaps of stress on their back because they have not properly prepared to no longer receive a paycheck every week or two.

In order to ensure that you will be financially stable upon retirement, it is crucial to plan and prepare for it as early as possible. While that does not mean you have to stash away every penny that winds up in your pocket, it is highly recommended that you take as many proactive steps as possible to begin contributing to your financial future. See below for a few tips on how you can prepare for the next stage of your life -

1. Take advantage of your employer's 401(k) plan if one is available to you. Even if you contribute the minimum amount, you'll be setting yourself up for future success.
2. When seeking employment, always ask if pension plans are part of their package. If so, be sure that you fully understand what it entails and find out what would happen to your pension if your position were to be compromised.
3. That being said, if you do participate in an employer sponsored retirement plan, don't touch it! Although it can be tempting to withdraw from your savings, you will find yourself right back where you started and potentially lose out on even more money if you are required to pay withdrawal penalties.
4. Consider opening an Individual Retirement Plan (IRA). Regardless of whether you choose a traditional IRA or Roth IRA account, you can easily start putting money aside to assist you later in life.
5. Be aware of your retirement needs. By keeping up with the cost of living and knowing what bills or debts you may still have to pay, you can better prepare in terms of how much you should be saving each month.

For more tips on how you can plan for retirement, please click here.

At American Investment Planners LLC, it is our hope that each of our clients live comfortably once they reach retirement age. Did you know that retirement planning is one of our specialties? If you would like to rest assured knowing that you have a solid financial future ahead of you, contact us to sit down with our retirement planning experts today; we can develop the most effective strategies to assist you with your long term financial goals. To learn more about how we can help, please visit us at www.americaninvestmentplanners.com or give us a call at (516) 932-5130 or toll free at (866) 932-5130 today.