Financial Information
Late start with retirement planning…?
Question : Late start with retirement planning…?
I’d like to know if anyone has any idea on how I can retire comfortably even if I got a late start. Anything can help at this point!!!
retirement planning help
Best answer:
Answer by Judy
Google:
Retirement Calculator
CNN money, Schwab, Fidelity, bankrate.com all have good ones.
Don’t do the AARP one – something is wrong with it .
No matter how much you save, for some reason is never enough.
By using this calculator you’ll know exactly how much you need to save, and how much you will have each year of your retirement.
Most important – make sure you don’t have a mortgage in your retirement…
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#2 written by Zarg222 1 year ago
how late? I didn’t start till age 44. I’m still hoping to have enough to retire before age 64
just keep saving as much as you can
if your company offers a 401k plan with company matching – try to contribute at least enough to get the maximum match possible – that’s FREE MONEY – I have gotten $ 20,000+ in FREE match money from my company far in the 7 yrs they have paid match
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#3 written by Alher Geez 1 year ago
It’s ok if you got a late start! First and foremost start saving as soon as possible that way you can start getting yourself where you need to be. Here’s an article to help you a little more. http://www.retirementfinances.com/financial-planning-for-retirement-when-you-start-late
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Here are some tips for putting together a late-start retirement plan just avoid to panic. Take comfort in the fact that it doesn’t necessarily take four decades to finance a retirement plan. Make up for the loss of Compounding Returns Magic with another kind of magic. Forget about using the conventional rules of thumb to determine how much you are going to need to live on in retirement. Ignore dumb advice to up your risk profile to make up for lost time financing your retirement plan. And consider working in retirement.