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This Holiday Season, Think About Your Future is in support of the public service campaign to Ace Your Retirement. I am proud to showcase this information on Life Beyond Kids. No compensation has occurred.
As you enter adulthood there are certain things that you look forward to. And the more you age the more each of those things change. However, from the time you graduate to the time you start a family, begin raising kids, buy a house, homeschool, have a career – whatever it is you do, you probably haven’t thought more than a few minutes about what retirement looks like.
As you can imagine, a life raising 4 boys means that we invest a lot of time and energy into their livelihood. We get busy, life gets in the way, we procrastinate and imagine that it is fine to do it later.
Then, before you know it, you’re 40! And retirement or at least the thought of retirement is creeping closer and closer. But, have you actually stopped and made a plan? Unfortunately, retirement plans do not make themselves. We have to be proactive and the earlier we start the better off we will be both financially and mentally by the time retirement age comes along.
Before our son P was born, I had plenty of exposure to economics and finance while studying to obtain my MBA. But with the amount of brain power that it takes to raise kids, homeschool them, and still do the other things that adults are responsible for, finding a way to make things like saving for retirement happen is what parents need!
As parents, we invest so much energy, time, and money into our kids – sometimes giving up things for ourselves. Anyone who’s scrimped and saved for holiday shopping or stayed up late wrapping presents or baking cookies knows what I’m talking about.
AceYourRetirement.org has personalized, simple tips to make sure I’m on track with my retirement savings. The simple step by step process that gets you started thinking about your retirement is seamless. And, Avo the friendly digital retirement coach actually makes it fun by asking questions in a chat type format. What could be less scary than chatting with a cute little emoji?
Here are a few tips to consider to help you maximize your retirement savings:
- While gathered with your family for the holidays, discuss your savings plans and long-term retirement goals, and what you can do today to achieve them. It’s important for everyone in the family to be on the same page about your financial goals and priorities.
- Start planning now what age you plan to retire and when you plan to start taking your Social Security benefits. Earning a few more years of income could really help you grow your nest egg, and delaying when you start collecting Social Security increases your annual benefit.
- If your employer offers matching funds for your retirement savings plan, make sure you’re contributing at least enough to get the full employer match.
- Brainstorm ideas for earning money in retirement, such as turning a hobby into a source of income, or taking on seasonal part-time work
- Visit Visit AceYourRetirement.org to get your personalized action plan in just three minutes. Your digital retirement coach, Avo℠, will reveal the top three simple, practical things you can do right now to make sure your retirement plan is on track.
It’s not surprising that our family is one of many doing this financial juggling act. Many Americans have almost no retirements savings, nearly half in fact! But it’s not too late to get started!
Taking steps to take control of your retirement planning could have a positive impact in many areas of your life. According to a recent survey from AARP and the Ad Council, more than half of people in their 40s and 50s say that feeling more confident about saving for retirement would help them feel less stressed (54%). And 46% would be happier knowing they are taking care of their family’s future. I know I feel better after chatting with Avo at AceYourRetirement.org.
We work hard for our kids and our family – and now we are working hard for our own future as well. What will you be doing to help ensure your own future?