Planning for your retirement should begin early in ones’ life. Depending on which stage of life you are in, determines how you should be planning.
Now is the time to establish a sound budget, set aside an emergency fund (approximately 3-6 months worth of income), begin to think about how much you should set aside for retirement, and contribute annually to an IRA..
At this age, you should have a reliable emergency fund, continue saving for retirement, protect you income (by obtaining disability and life insurance), and establish your legacy by establishing a will..
First and foremost, make sure that your retirement planning is still on track. In addition, decide when you are emotionally and financially prepared to retire. To be confident in your financial decisions, please contact your financial advisor.