Did you catch the recent article in US News and World Report titled “5 Steps to Save More for Retirement? I won't spoil it and give you all of the tips discussed in the original article, but one great way to save for retirement is automatic payroll deductions.

Start out with a modest amount and gradually increase it. Most employers and financial institutions are set up to allow you to deposit money into more than one account; if not, set it up to deduct from your checking account the day you get paid. Either way you won't have it to spend when you already put it away in the bank or miss what you never had to spend in the first place!

Be sure to take a look at the original article and talk with your trusted advisors. Together, they can coordinate your retirement plan with your estate plan to help you implement the recommendations made in the article, as well as others that fit your situation. Then get your nest egg growing!

Reference: US News and World Report, February 6, 2014: 5 Steps to Save More for Retirement

Post a Reply