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Planning for Retirement

Although retirement may seem like it is far away, time flies by fast, and it is important to start planning for such a huge part in our life.  We work our jobs now so that one day we can enjoy no longer working for the man, and so that we can enjoy doing what we please from there on out.  Planning for retirement is very important, and saving money is key.  If you’re looking for ways on how you can start saving for your retirement, continue reading below for ideas.

Limit spending - As always, it is important to make smart purchases throughout your whole life.  This goes for reasonable priced vehicles, houses and other things that you’ll need in life.  It is also a good thing to find cheap ways to have fun instead of going out and spending too much.  Fun days at the park are much smarter when it comes to cost than going to the movies every week.  Find hobbies that are less expensive, yet still fun!

Open a CD - Instead of opening up a savings account at your bank, open up a CD.  Most saving accounts give you hardly any interest which makes it impossible to make money off your money.

Stocks & mutual funds - If you’re looking to make money over the years and NOT over night, test out stocks and mutual funds.  This is a great way to make money as long as you don’t put too much of your earnings into it and hold on to the majority of your money.  Find a company that is doing well and, one that you think has a lot of potential for the future.

401k - Check  if 401ks are available where you work.  This is a great way to save money for the future, and is also a very EASY way to save!

Down economy - If you can, and if you have some extra money saved up, take advantage of this down economy.  For example, if you’re great at fixing up houses, buy a foreclosed home, fix it up and make a huge profit on it in the future.

Planning for retirement is extremely important and should never be underestimated.  You want to enjoy life, never worry about money again and really focus on saving money so that you can make all your dreams happen!  Start as soon as possible, and look for simple ways to start planning.  For some guidance along the way, consider the ideas above!

Disclaimer:This content is not provided or commissioned by American Express. Opinions expressed here are author's alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.

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