4 Things You Can Do Right Now To Improve Your Retirement

Today, we share 4 things you can do right now to improve your retirement.  Click below to listen.

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Start Now! Steps to Improve Your Retirement.

There is plenty written about the retirement crisis in America. But you can make a positive impact on your own situation. Here are 4 things you can do right now to improve your retirement.

4 Things To Improve Your Retirement

Start Saving

Time is your greatest resource when saving for retirement. The earlier in life you start, the longer you enjoy the benefits of compounded returns.

There is a saying, “The best time to plant an oak tree was 20 years ago. The next best time to plant one is right now.”

You can’t make up for the lost time, but you make saving a priority now. Look at your budget. See what changes you can make. Figure out how you can start putting money in a 401K or IRA. Don’t waste any more time.

Improve Your Retirement 4 Things

Save More

How much you save for retirement is critical. Many people suggest you should save 10% of your pay for retirement. Think about increasing that to 15%.

It means you’ll have 50% more in your nest egg. In dollar terms, if saving 10% of your pay results in a retirement savings of $500,000, saving 15% would result in $750,000. That’s a big difference.

4 Things Retirement

Plan To Work Longer

Retiring early can mean big discounts to Social Security benefits. It also gives you fewer years to save and benefit from compounded returns.

Waiting to retire means the discounts to Social Security get smaller. And if you delay long enough, your Social Security benefits will actually increase.

Improve Retirement 4 Things

Pursue Growth

We all know the stock market can be a wild place. There are plenty of up years, and occasionally, a big down year. But over time, stocks have helped many people improve their retirement picture.

Don’t be afraid of the stock market. It can help improve your returns over time. And that means a better retirement.

You can make your retirement better. Start with these 4 things. If you need some help, talk to a financial planner.

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Do you have a question about what’s happening in the world of finance or investing?  Is there a topic that has you curious?  We’d love to hear from  you.

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Financial Planning

About the Author

Neal Watson is a Certified Financial Planner™ Professional and a Financial Advisor with Fleming Watson Financial Advisors  He typically works with people who are planning for retirement.  Fleming Watson is a Registered Investment Advisory firm located in Marietta Ohio.  Our firm primarily serves Marietta, Parkersburg, Williamstown, St. Marys, Belpre, Vienna and the surrounding communities in Washington and Noble Counties in Ohio and Wood and Pleasants county in West Virginia.

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