The Most Important Aspects of Retirement Planning

What do you know about retirement planning?

Retirement planning is an essential part of securing your financial future.

It’s never too early or too late to start planning for the day that you’ll no longer be working. The first important aspect of retirement planning is to start saving as early as possible. The earlier you start saving, the more time your money has to grow and compound. Another important aspect of retirement planning is to have a clear understanding of how much you’ll need to save in order to maintain your desired lifestyle in retirement. Diversifying retirement savings between various types of accounts such as 401(k)’s, ROTH, IRAS, and traditional IRAS can also be a smart strategy.

Each type of account has a different tax advantage and a contribution limit that can help you maximize your savings.

If you would like to discuss your retirement plans with a Certified Financial Planner™ and retirement specialist, please go to: https://keepitsimplefinancial.com/