If you are alive, you are planning for retirement. You are either planning by taking active steps to secure a strong future or you are planning by counting on tomorrow to take care of itself. Hoping that the four winds will blow money in your open front door is not the way to go.
Here are some general guidelines to follow from professionals in the retirement planning field:
1. Make a plan today based on priorities that make good financial sense.
2. Eliminate your debts quickly. Also, do not borrow to pay for things that depreciate or have no real monetary value, e.g., a car, a television set, or, worse yet, a vacation.
3. Have the discipline to invest your savings while you are still working.
4. Live a lifestyle that fits your income. If a trip by car to see the in-laws is what you can afford in cash, don't visit them two states away via London on a 14-day excursion "paid for" by Mr. Visa/MasterCard.
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Wednesday, April 9, 2008
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