How Do You Create A Retirement Plan?
Your retirement may seem far off or approaching all too quickly. Achieving a comfortable retirement requires a plan. That plan can include your company sponsored group retirement plan or an individual retirement plan. The key is to utilize your retirement plan to start saving sooner rather than later and to have goals that you can track along the way. Step 1 Calculate your retirement income needs with a retirement savings calculator. Using information such as your current age, your desired retirement age and the amount you have already saved, the calculator will show you how much money you need to save monthly or annually to reach your retirement savings goals. Step 2 Determine the appropriate risk tolerance profile for your current age. Your risk tolerance is your ability to withstand short-term declines in the value of your investments when investing for long-term performance. To determine your comfort level with risk, take a risk tolerance questionnaire. Step 3 Develop an asset allo
