Matt Dapore

2 years ago · 1 min. reading time · ~10 ·

Blogging
>
Matt blog
>
Achieving Your Retirement Goals

Achieving Your Retirement Goals

ACHIEVING YOUR

70)
=
<
S
S
=
Zz
-
=
=
es
pr
=
=
==

&
ES
=
2S
=

=
P=
od
fan)
el
-—
~—
Pr
oo]
Lod
g

Those who survive into their 60s or 70s will eventually retire. Many will have to retire earlier because of downsizing or health issues. Regardless of when retirement is expected, it's important to set goals to ensure there are funds available to pay for expenses during the golden years.


 

Start Early



 

When looking to achieve retirement goals, starting as early as possible is key. The longer a person can save in a retirement account, the longer that money has time to grow. Investment returns tend to compound over the long run. Even small investments made on a regular basis can build into large sums over a period of decades. Those with only a decade or two will have fewer years left for compounding to take place, which can lead to a need to use other strategies.


 

Cut Expenses



 

Those who are able to will also realize the benefit of needing a smaller nest egg to survive in retirement. Every dollar that's cut from a monthly budget is a dollar that can go toward investing for the future.


 

Make More Money



 

This strategy can pair quite well with cutting expenses. Additional income can go toward saving more. This is key for those who have cut their expenses to the bone and have little wiggle room to save money for emergencies or for their retirement needs. If a normal budget has no money available to save, adding some income can make the difference between eating hot dogs and eating steak in retirement.

 

Work Longer

 

This can be a more difficult strategy to realize. Health problems can lead to an inability to work. Additionally, employers can decide that some of their workers are redundant. Those who are short of their retirement goals can fill the gap if they are able to continue working. Making some money for even another year or two can really improve a household's financial situation in retirement. This additional income can add to the nest egg while also cutting down on the amount of years in which money needs to be drawn down from a retirement account.


 

Meeting retirement goals will take time. However, for those who are disciplined, achieving a healthy retirement account will be worth the effort. Adjusting a strategy over the long haul can make sense and help investors meet their needs earlier than they might expect.


 

Comments

Articles from Matt Dapore

View blog
3 years ago · 1 min. reading time

Everyone occasionally forgets where they put their keys, an important appointment or to water their ...

3 years ago · 1 min. reading time

Everyone knows getting older takes a toll on physical health. However, it also takes a toll on menta ...

3 years ago · 1 min. reading time

The decision to look into home care for a loved one is a big one. There are lots of opinions to take ...

You may be interested in these jobs

  • Laurel Manor

    Physical Therapist

    Found in: Talent US A C2 - 1 hour ago


    Laurel Manor Washington Township, United States

    Physical Therapist for Laurel Manor in Stratford Shift/hours: FT and PRN Working at Laurel Manor truly means becoming a member of our family. We believe caring for seniors is a uniquely rewarding experience and there is no better place to realize that experience than with us.As ...

  • Oregon Humane Society

    Part Time Animal Care Technician, Portland Campus

    Found in: Lensa US Remote C2 - 12 hours ago


    Oregon Humane Society United States Remote job Part time

    Job DetailsLevelEntryJob LocationOHS Main Shelter - Portland, ORPosition TypePart TimeSalary Range$ $18.09 HourlyAnimal Care TechnicianAbout the Oregon Humane SocietyFounded in 1868, Oregon Humane Society is the Northwest's oldest and largest animal welfare organization with one ...

  • Corratel Healthcare

    Travel Interventional Radiology Technologist

    Found in: Jooble US O C2 - 13 hours ago


    Corratel Healthcare Clearwater, FL, United States

    Corratel Healthcare is seeking a travel Interventional Radiology Technologist for a travel job in Clearwater, Florida. · Job Description & Requirements · Specialty: Interventional Radiology Technologist · Discipline: Allied Health Professional · Start Date: 04/28/2024 · Dur ...