The journey to a comfortable retirement starts with careful financial planning—and it’s never too early to start. Here are six smart steps to take while planning your retirement.
Take Full Advantage of Matching Funds
These funds are dependent on your company retirement plans policy regarding matching funds.
Use The Retirement Savings Credit
This credit is available for many lower income earners and promotes saving for retirement by offering a credit.
Maximize Your Health Savings Account
You can maximize your donations while working, and these funds can also be used during retirement.
Automate Retirement Savings
The sooner you have funds automatically sent from your pay to your retirement account, the better.
Know Your Risk Threshold
While you are young, consider a higher-risk portfolio and gradually decrease your risk as you age.
Remain Aware of Contribution Limits
One of the benefits of being in your 50s is the option to increase your contributions for your IRA plan.
Whether you're just starting your career or planning to retire soon, these steps will help keep you on track to a retirement that's financially secure.
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