Financial Planning for Retirement

Now that I'm getting older, I've decided that I really need to start saving some money for retirement. I'm still in my mid-thirties, but I don't even have as much as a single IRA in my name, so I'm definitely behind in the game.

I've been reading news articles about how Social Security isn't likely going to be around when I retire, so I know I can't count on the government to take care of me. Plus, the cost of living just continues to skyrocket, which means that financial planning is even more important now than ever before.

As I said, I've never really worried about financial planning before, but I guess it's better late than never. I don't have a personal adviser for money matters, so I've been doing a little research on the Internet to try to find out how other people are saving up for retirement. I was pretty overwhelmed by the amount of financial planning information out there, so it's definitely going to take me some time to weed through it all.

From many of the websites I've reviewed thus far, I've learned that the most important financial planning decision I have to make is what kind of investment vehicles to put my money into. There are plenty to choose from, of course, so I really need to be aware of the return rate I'd be getting before I part with my money.

For example, simply keeping my money in a savings account that yields 3 percent annually isn't the smartest financial planning move I can make. That rate of return doesn't justify tying up my money, so I'd be better off putting it in stocks or bonds that can yield two to three times the interest.

Another thing I learned from the various financial planning website I visited was that it might be helpful to sit down with a professional planner to go over my current situation. Together, we could discuss my goals for the future, calculate how much money I think I'll need for retirement, and work out a viable investment plan to help me reach my goals before age 65.

That sounds like an excellent idea, so I'm currently looking for someone in my area who is qualified to assist me with my financial planning needs.

I have to admit that I'm very relieved to finally be doing something about my retirement. Hopefully with some sound financial planning now, I'll have a sizable nest egg to enjoy in my golden years!

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