Posted on 22 September 2012.
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Half of Americans Could Have No Money At Retirement
With 401(k)s failing, it is never too late to start investing for your future. Even if you have never saved or invested, there are great plans to help you get started. From beginners to veterans, there are great investment resources for anyone who is looking to grow their money with high returns.
Start Small
When you first start investing, start small to get a feel for which investment strategies work best for you. If you are far from retirement, there are many options available to you. Those closer to retirement will want to have a more structured and well-crafted investment plan that will ensure enough cash flow to cover living expenses.
How Much Should I Invest?
Before you start deciding on a retirement plan, start thinking about how much money you will set aside for investing. This will depend on how much money you will need annually once in retirement and how long you have until retirement. Use an online calculator to determine your annual living expenses. Set aside enough for investing that will cover these expenses through your period of retirement.
Most savers grossly underestimate how much money they will need for retirement. This can lead to problems later down the line. Don?t let this happen to you. Build up a cushion now so that you can live comfortably when you retire.
A graduated retirement program can work wonders for your money. These programs start out aggressively, putting the majority of your money in stocks. As you grow older, the program becomes more conservative, funneling your money into safer investments such as bonds and certificates of deposit. Like any retirement investment plan, this plan carries certain risks. The stock market foes not offer guaranteed returns and there is potential for loss of income. With the graduated plan, however, younger savers will have more time to recover any lost profits.
Getting Started
Starting your investing plan is easy. Walter Wisniewski Paragon Capital has all of the resources you need to set up a retirement and investing account. Answer a few questions and consult with a financial adviser who will discuss your goals for retirement. The time to start investing is now. Even if you have never saved or had a retirement account before, now is the time to start. Having a sound plan for how you will finance your living through retirement is key to having peace of mind.
Half of Americans Could Have No Money At ?Retirement? ? Will You?
Source: http://universalfinances.com/americans-money-retirement-you
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