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When Will You Retire?
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4 Learn More About:
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Making Your Money Last
In our uncertain economic environment, it’s more challenging than ever to make saving for retirement a priority. Every day, there seems to be more bad news that may affect you or someone you know. It can be scary to watch the balance in your retirement account fluctuate or drop, but don’t panic. It’s important to remember that if you have more than ten years until retirement, time is on your side. Historically, the markets will rebound, and you should be able to ride out the ups and downs.

Although, past performance isn't indicative of future performance. It may be tempting to stop contributing to your 401(k) or other retirement account, especially if you’re feeling the squeeze of other expenses. If you must scale back, at a minimum make sure you’re getting any company match available to you. Otherwise, it’s like missing out on free money.

As the cost of living and health care continues to spiral upward, it will probably be very tough to save too much money for retirement. It may seem like a long way off, but many people

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might tell you that time seems to go by faster as you get older. Take advantage of the time value of money now, while you still can. By preparing as much as possible now, your older self will look back and thank you. One thing to consider as you plan is your own medical history as well as that of your family. Not only can this help determine your general life expectancy but it can also help you think through whether or not you have enough financial resources to cover any projected health issues that will probably arise during your retirement.

Here are some resources that may be helpful:
Bankrate.com – Rates, news and information

TC47504(0609)

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