{"id":2053,"date":"2023-01-06T09:00:42","date_gmt":"2023-01-06T14:00:42","guid":{"rendered":"https:\/\/ritaus.org\/?p=2053"},"modified":"2023-05-05T18:12:52","modified_gmt":"2023-05-05T22:12:52","slug":"basic-retirement-planning-tips-for-future-peace-of-mind","status":"publish","type":"post","link":"https:\/\/ritaus.org\/basic-retirement-planning-tips-for-future-peace-of-mind\/","title":{"rendered":"Basic Retirement Planning Tips for Future Peace of Mind"},"content":{"rendered":"\n<p>Everyone wants to know that the money they have worked so hard for will be adequate, safe, and ready to access at retirement. By addressing the top retirement concerns, anyone can take the right steps for a successful financial future. With diligent research paired with the best planning and investing, future retirees can rest assured that they will reach their desired goals. For peace of mind, follow these basic retirement planning tips.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Start Planning Early<\/h4>\n\n\n\n<p>There truly is no time like the present to begin the journey to\nfinancial freedom. To some, this journey may seem overwhelming, but it is possible.\nWith the right tools and the right team, anyone can take simple steps to\nestablish retirement funds. There are many ways to invest, from <a href=\"http:\/\/ritaus.org\/ira-101\/\">IRAs<\/a> and 401(k)s to more non-traditional\napproaches. <\/p>\n\n\n\n<p>Many employers offer retirement plans, but those plans are not typically\nsufficient to sustain a full retirement. 78% of Americans are concerned about\nnot having enough money for retirement. <\/p>\n\n\n\n<p>The majority of people do not know <a href=\"https:\/\/money.cnn.com\/retirement\/guide\/basics_basics.moneymag\/index7.htm\">how much they will need\nfor retirement<\/a>. Take into consideration several factors:\nretirement age, the standard of living, and expected retirement expenses (including\nneeds as well as wants). There are many aspects to consider. Planning as far in\nadvance as possible will ensure that you are ahead of the game rather than\nbehind. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Invest Now<\/h4>\n\n\n\n<p>One of the greatest regrets people have as they get older is that\nthey did not start investing or saving for retirement earlier in life. (Which\nis why it\u2019s one of the most widely mentioned retirement planning tips!) The\ncompound effect of savings over time is significant. The money invested begins\nworking for itself as it grows throughout the years. Making smaller sacrifices\nnow allows people to enjoy a fuller life down the road. In a culture that\ndemands to have everything now, the wisest people take the steps to invest in\ntheir preferred financial future. Don\u2019t wait to start saving!<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Take Practical Steps<\/h4>\n\n\n\n<p>If an employer offers a matching program for retirement\ninvestments, strive to make the maximum match investment. If the company\ncontributes up to a 5% income match, the employee should make at least a 5%\nincome investment from each paycheck. This creates an automatic 10% investment\nat a lower cost to the investor.&nbsp; <\/p>\n\n\n\n<p>Setting aside a specific amount each month is another practical\nway to make a large impact. We recommend investing the maximum amount into an\nIRA (see current contribution limits <a href=\"https:\/\/www.irs.gov\/retirement-plans\/retirement-plans-faqs-regarding-iras-contributions\">here<\/a>). There are\nadvantages to each type of IRA (Traditional and Roth), so make sure and\nresearch the best option for each financial situation. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Diversify Your Funds<\/h4>\n\n\n\n<p>As far as retirement investments go, diversification helps\nminimize the risks involved. Not every fund or investment responds the same way\nto economic events such as governmental impacts to natural disasters. By\nspreading investments across multiple channels, funds are more stable and less\nlikely to face an overall drastic decline. Speak with a knowledgeable and\nexperienced retirement custodian to ensure you\u2019re making the best investments\nfor you.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Manage Your Account<\/h4>\n\n\n\n<p>Keeping an eye on how accounts progress over time is important to\nthe health and growth of the funds. Of course, there will be fluctuation, but\nif something looks \u201coff,\u201d it\u2019s worth looking into to make sure mistakes have\nnot been made. Perhaps there is a shift that needs to be made, such as reducing\nthe input into a certain fund and increasing an alternative account. As\nretirement approaches, people may desire to adjust the risk factors involved\nwith current investment accounts to minimize the chances of loss. <\/p>\n\n\n\n<p>Following these basic retirement planning tips and having a retirement plan in general is crucial. Look for additional opportunities to learn more about the steps you can take to begin planning for your future. The key is knowing the right partners who will help you find the best plan for you. A plan provides peace of mind and an assurance that a financially sound future is attainable.<\/p>\n\n\n\n<p>Looking to set up an IRA? We want to help <a href=\"https:\/\/ritaus.org\/membership_directory\/\">connect you to the right person<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Everyone wants to know that the money they have worked so hard for will be adequate, safe, and ready to access at retirement. By addressing the top retirement concerns, anyone&hellip;<\/p>\n","protected":false},"author":63,"featured_media":2054,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[16,27,64],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Basic Retirement Planning Tips for Future Peace of Mind | RITA<\/title>\n<meta name=\"description\" content=\"Follow these retirement planning tips and look for additional opportunities to learn more about the steps you can take to begin planning for your future.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ritaus.org\/basic-retirement-planning-tips-for-future-peace-of-mind\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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