What are the secrets of a happy, financially successful retirement? Are there some general steps you can take to retire richer and financially secure? Dan Caplinger, writer for The Motley Fool who’s also a financial consultant and estate-planning attorney, offers you 5 general tips:
- Start investing as early as you can: Your biggest asset when you are young is time.
- Don’t settle for “safe” investments: Learn how to take risks when investing because higher risk is associated higher returns.
- Milk your employer (and the IRS) for everything you can get: Take advantage of employer-sponsored retirement plans like a 401(k).
- Get yourself out of debt before you even think about retirement: This will help you get rid of the stress and worry of coming up with payments.
- Make sure Social Security is working its hardest for you: Understand the different benefits you are entitled to receive from Social Security. The later you retire, the bigger your monthly checks.
Read Dan Caplinger’s full article here. For more advice, news, and opinions to help you plan for a successful retirement, join us on Twitter.
Photo by CDC/ Amanda Mills
Tags: 401(k), financially successful retirement, happy retirement
