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It is never too late to start saving
It’s never too late to start planning and saving for your retirement. Even if you are in your fifties or sixties, there are things you can do to help yourself in post retirement.
Think post 65 that you will live another 17 years if you are a guy, 21 for the longer living women. This means that you will most likely need more than you think to keep up your style of living. So don’t underestimate your post retirement years.
Don’t miscalculate how much you will need either. It’s easy to log on to a retirement planning website and give their calculators a shot. Not hard to do, and it will at least put you in the ballpark…a better location than clueless. Now add to those figures inflation. You will want to invest in some growth investments rather than the fixed rate CDs that seem so safe. With a rising inflation rate, the CDs may not even keep pace. But don’t put all your retirement eggs in one basket. The key is to diversify…a little bit here and a little bit there in a variety of funds and asset classes.
So plan ahead and keep paying attention to those “eggs”.
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