How to Save Money for Retirement

Saving money for retirement can be easy or difficult depending on your current salary. If you are like 75 percent of the American population, earning just enough money in your current job to meet your monthly bills, then it's time to do some serious thinking on how you are going to live when you retire.

Social Security isn't going to meet all your monthly payments. That is, if Social Security, or some revised form of it, still exists when your day of retirement arrives.

Here are some tips on how to save today for your future. No matter how little, or how much, you earn today.

Estimate how much you must save to give you the income you know is necessary for you to retire in comfort.

Experts suggest that you will need an income equaling about 75 percent of your current take home pay. Be sure to estimate a rise in inflation which has historically been about 5.3 percent per year.

Figure out how much of your current salary will need have to save each year to achieve your retirement goal by counting backward from the year you plan to retire to see how many years you have before retirement. Include the possibility of being on a fixed income for as long as 20 or 30 years. Depending on how many years you have until retirement a U.S. Treasury bond that guarantees six percent interest might be considered, while stocks might have the potential for a much higher return, but has a much higher risk of loss.

A financial planner, stockbroker, or an accountant, can offer guidance, expertise and access to knowledge about almost any type of investment or retirement planning concerns.

Spread your money out over a variety of investments. Some will prosper while others may fail.

Set up an automatic draft from your bank account from your paycheck so that a portion of your income goes directly into your retirement funds. Pay off major debts, such as home mortgages, college loans and other significant cash-flow drains, as quickly as you can.

For more information visit: http://www.apluswriting.net/finance/retire.htm

REQUIREMENTS FOR REPRINT: You have permission to publish this article free of charge in your e-zine, newsletter, ebook, print publication or on your website ONLY if it remains unchanged and you include the copyright and author information (Resource Box) at the end. You may not use this article in any unsolicited commercial email (spam).

You may retrieve this article by:

Autoresponder: retire99@getresponse.com
Website: http://www.apluswriting.net/articles/retire.txt

Copyright: 2005 Marilyn Pokorney

Please leave the resource box intact with an active link, and send a courtesy copy of the publication in which the article appears to: marilynp@nctc.net

Author: Marilyn Pokorney
Freelance writer of science, nature, animals and the environment.
Also loves crafts, gardening, and reading.
Website: http://www.apluswriting.net

A Completely New Way To Get Rich Rapidly

This new way is catching on around the world. People are compounding money rapidly for... Read More

Is Your Money Keeping Up With Inflation?

In today's unpredictable global economy, you obviously never know what is going to happen next.... Read More

Lesson 2 - The Commodity Of Kings!

What is "The Commodity of Kings""Power is simply "the ability to act." Since ancient times,... Read More

The 11 Best Money Saving Ideas of All Time - Part 3

At any time in history, no matter what the current state of the economy, no... Read More

Do You Want Money?

Let me ask you a very simple question. Do you want money? Of course you... Read More

Turn Your Job Loss Into the Opportunity of a Lifetime

There are few things in life that are more stressful than the loss of a... Read More

WARNING: The Biggest Lie About Compound Interest

Have you wondered why financial experts only tell you certain things about building wealth? Do... Read More

Pennies From Heaven

I want to share an experience I had in common as a child with Dr.... Read More

Uncle Sams Snake Oild

Uncle Sam and his band of merry-men, better known as Congress, have been pushing snake... Read More

The Difference Between Wants & Needs

So you want to become wealthy? While there is no single road to getting there,... Read More

Wealth Building Tips: Manage Your Money

As someone who loves to shop, enjoys holidays and owns way too many pairs of... Read More

Gain More Control of Your 401k - What It Can Mean to Your Future

Points to ponder as you consider what can be done to maximize your 401k returns:1.Are... Read More

Building Wealth by Paying Yourself First

When I look around at all of my friends, and a lot of my family,... Read More

A New Economic Policy

Anyone knows that material wealth is measured in goods: apples, cars, shoes, sheep, etc. When... Read More

Who Wants To be A Millionaire?

How many people search Google, Yahoo and MSN each day for the terms - make... Read More

Want Money? You Got It!

Six out of six people who were asked to list their highest priority in life... Read More

5 Simple Steps for Serious Saving and Financial Growth

1) Pay off your loan, credit and store card debt and resist the temptation to... Read More

Learn How to Bank Like a Banker

The business of banking has changed dramatically over the last decade. Because the cost of... Read More

A College Degree or an MBA is NOT NEEDED to be Financially Free

Look at Forbes' top 10 United States wealthiest people. Notice the top five "self made"... Read More

How to Save Money and Take the Vacation You Always Wanted

Many people don't realize how much money they spend on convenience and boy does it... Read More

Tax Strategy - Theres More to Building Wealth than Clipping Coupons

We talked recently about the wealth formula:Spend less than you earn and save the difference.... Read More

The Underlying Belief System

Many of us do not consider the underlying belief system about money to be of... Read More

Simple Tips on Saving

Simple tips on saving can very often make quite a big difference to your finances.... Read More

Self Improvement and Financial Security for the Future

Any successful person, or any anyone interested in self improvement and making a better life... Read More

8 Tips for Keeping More of Your Hard Earned Money

Masters degree not required...just a little common sense, a $5.00 calculator and a realistic plan... Read More

How To Grow Your Mental Power and Let Your Brain Make You Rich

No one has complete control over their thoughts. But with practice, with deliberate attention, far... Read More

Retirement Planning the Offshore Way

Retirement Planning the Offshore Way Why do so many of us constantly push the thought... Read More

Do You want to Live on Macaroni and Cheese when You Retire or Filet Mignon?

How Much Money Will I Need to Earn to Retire?This is the most common concern... Read More

How To Get Investors And Bankers To Part With Their Money For Your Business

Time and time again entrepreneurs are losing out on getting the capital they need because... Read More

10 Ways To Find The Money Hiding In Your Paycheck

No matter how tight things are financially for you; no matter how bleak you think... Read More

Financial Freedom for Every Employee

You may think you have to be an entrepreneur to achieve your goal of financial... Read More

The 11 Best Money Saving Ideas of All Time - Part 1

At any time in history, no matter what the current state of the economy, no... Read More

Retirement ? Can You Afford It?

Every day you work is one day closer to your retirement. But can you afford... Read More

You?re Eating Your Retirement Money

Ever think about how eating all those fast food meals for lunch are effecting your... Read More

Real Estate Stories that Show You How!

Let's begin easing you out of the pits. I mean, comfort zone! I'm going to... Read More

Discover the Secrets and Possible Solutions To Money Problems

It is sometimes pitful how many projects are never born or die simply because of... Read More

What Are Your Beliefs About Money and Wealth?

What is your attitude towards having wealth? Do you believe it is possible to have... Read More

Tax Help - Girls (and Guys) Just Want to Have Fun by Using Tax Saving Tips

In his best selling book, "Rich Dad, Poor Dad, Robert Kiyosaki warns people against the... Read More

The Financial Equation that Will Set You Free!

I have a good friend who works in an area of the US that has... Read More

The Predicament of the Newly Rich

They are the object of thinly disguised envy. They are the raw materials of vulgar... Read More

A New Paradigm Shift In Earthly Wealth

Hello,If you dont understand this yet, or have not heard of opportunity investment, you are... Read More

Mastering Your Money

One of the things most of us have old ideas about is money. The best... Read More

Could a Roth IRA be Better Than a 401(k)?

Very few people whom I know are familiar with the benefits of the Roth IRA.... Read More

The Parthenon Principle

Have you seen a picture of the Parthenon in Athens, Greece? I will never forget... Read More

Who Else Is Tired of Life Punching Them in the Face?

Remember the bloodied face of Randall "Tex" Cobb?He was a boxer who fought in a... Read More

Virtual Millionaire Strategy Exposed

Let's begin this lesson with a definition of the term "Virtual Millionaire". This is an... Read More

The PDQ? Factor

It's the beginning of a brand new year: a time to set goals, make plans,... Read More

You Can`t Cheat An Honest Man

Author: James Walsh ISBN: 1563431696: Publisher: Silver Lake PublishingIn 1903 Charles Ponzi arrived in... Read More

Still Using Federal Reserve Notes?(How to Beat Inflation)

"My people are destroyed for lack of knowledge." Hosea 4:6 This short article will address... Read More

Top 7 Ways To Get Rich

Want to be one of the lucky ones on the road to riches, want to... Read More