Retirement - Getting Started

Saving for retirement isn't glamorous or immediately rewarding, but it's something we all must do, whether just starting a career or edging closer to retirement. You may get a little help from Social Security payments or a company pension plan, but it's up to you to sock away as much as you can now to pay for your retirement years later.


Get started now and focus on the long term. The earlier you get started, the
more time your investments will have to grow. You also have the benefit of
being able to ride out market fluctuations if you keep your eye on your
long-term goal. Establishing an automatic investment plan is a great way to "set
it and forget it."

Take advantage of every opportunity. It's likely that your first and primary
exposure to retirement investing may be through an employer-sponsored
retirement plan, such as a 401(k). Invest as much as you can and take
advantage of matching contributions from your employer. Be sure you also
open an IRA so you can put even more money away on a tax-deferred or
tax-free basis.

Use mutual funds. Mutual funds are a good option for retirement because they
are professionally managed and diversified. You can use several funds to
diversify even further and ensure you're not keeping all of your eggs in one
basket.

Investing little by little over time can make a big difference. Make the commitment to yourself so you can help make your retirement dreams a reality!