Suggestions abound for baby boomers on actions they should take during these troubling financial times.
Gail MarksJarvis, Your Money columnist for the Chicago Tribune, reports Americans have lost about $2 trillion in workplace retirement funds this year.
As baby boomers wonder what to do about retirement, MarksJarvis advises boomers follow typical financial planning advice in her article “Fighting the Shrinking 401(K): Investors Can Take Steps to Help Prepare for Retirement.”
Here are the steps she suggests:
- Start by calculating how much money you’ll need each year in retirement.
- See if you can afford it.
- Save more.
- Pay down debt.
- Put money into the right accounts, and then withdraw it during retirement so you don't increase your tax bill.
These are some very good tips. So many boomers are having to delay their retirement due to the current state of the economy — these tips come in very handy!
However, when we do sit back, relax and enjoy our golden years, we know that there will always be one company who is along for the ride.
AARP is a great source of services and information that can be beneficial to the quality of life. What’s great about AARP is that a membership comes with prescription and travel discounts!
AARP has teamed up with talk show host, Cristina Saralegui and made a fun, customizable video and you’re just a click away from being the next guest on Amigos Live! Check out http://www.upclosewithcristina.com/video to learn more and make your own video!
Also, you can enter to win an all inclusive trip for 2 to Miami while you’re checking out the site! (And even if you don’t win, there’s still those great travel discounts that come with the membership!)
Definitely check out AARP for yourself or a loved one. There are really are some great benefits to joining!
I hope it’s alright that I commented on your blog — wanted to let you know about the fun video with Cristina and AARP’s great benefits. If you have any further questions, please don’t hesitate to email me.
Thanks!
Isabella Coldivar
AARP Ambassador
isabellaAARP@gmail.com
Thanks for the comment.
Rita
There are many more decisions that you have to make that are essential when it comes to financial planning for retirement and should be considered seriously. Keep in mind that the objective of these decisions should be to ensure that your retirement is comfortable.