Retirement is one of the most awaited times in the life of several people. It is the stage when people would finally be able to stop working and enjoy their life. There are some who think that once they retire they would be able to enjoy everything in life that they always wanted to. However, in order to enjoy the retirement of your dreams you will first have to save money and put them up in the right investment.
Through the years however, the idea of retirement has been changing and there is more to retirement planning than just saving money and having life insurance. You may have been wisely saving for your retirement from the beginning of your career. However, a mistake may potentially jeopardise your entire savings.
Therefore, what is important is to plan and run a realistic cash-flow projection that can predict with a reasonable accuracy whether a portfolio with no or limited market risk. This preparation will help you sustain through your retirement years.
There are three major factors one should consider for his or her retirement to success – deciding on how much you can save monthly or annually, properly investing your money, and having a sense of how much money you need after you retire, in order to maintain your desire standard of living and cover your expenses.
To learn more strategies about retirement planning, check out this post from Time: http://time.com/money/3990748/roth-ira-overlooked-savings-strategy