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It is never too soon to start planning for your retirement. In fact, the sooner you begin to save, the more time your accounts have to grow. But, regardless of what age you start your retirement plan, LPL Financial can help you set yourself up for a healthy future!
At What Age Should You Start Saving for Retirement?
As we mentioned, it is never too soon to start planning for retirement. Ideally you want to start planning and saving in your 20s, right when you start earning a paycheck. If you start young, you can set yourself up for a comfortable retirement. But, even if you start in your 30s, 40s or 50s, you just need to start! At LPL Financial, we will help you set up appropriate retirement accounts that will be beneficial for your future no matter what age you are.
How Much Do You Need to Save for Retirement?
One of the hardest aspects of retirement planning is thinking about what your life will look when you are in your 70s. It can feel so overwhelming to think about at the age of 20 or 30 or 40…so much so that you may no want to save anything at all! We understand that this can be hard to imagine, but we can help! We have helped hundreds of individuals and families just like you create a road map and plan that can change and evolve overtime. The beauty of a retirement plan is you can always make changes where you see fit.
One of the first things we recommend is to think about what you want your life to look like after retirement. It is helpful to sit down and write out all your retirement goals. Then, the next step is to think about how much everything on your list will cost. When writing this down, think about the day-to-day expenses such as food, health care and cost of living (it is key to factor in potential inflation). Then, it is important to think about the extras like traveling, site seeing, volunteering and all the adventures you plan to take after you are no longer working.
Once you have your retirement goals in place, we can help you create a clear path to pursuing them! We will show you all your different options and help customize a plan that you feel comfortable with and excited about. Retirement planning doesn’t have to be so overwhelming… that’s what we are here for! We will take the extra stress away and help you create a plan that you can feel confident with.
You Design Your Future, LPL Financial Helps You Get There!
Something we love to talk to our clients about is the endless opportunities ahead. As you think about retirement, it should be fun and exciting to think about all the things you can be doing post work life. Maybe you’ll want to become a volunteer at a local library, reading books to young kids. Maybe you’ll want to volunteer your time mentoring up and coming leaders. Maybe you’ll want to hyper focus on your family or spend time traveling the world and experiencing all the things you’ve been reading about!
Whatever you want your retirement life to look like, LPL Financial can aim to get you there! We will set you up with a clear path so you can live the future you see for yourself.
For more information or to start your retirement planning today, contact us today!