Saving up for Retirement Part 1

By admin
25 August 2013

Retirement might sound as if it’shundreds of years away, but it’simportant to start saving as soon asyou can – the sooner you start, theless you’ll have to contribute eachmonth to retire in comfort.

Don’t retire too early

It may be tempting to take early retirement at the age of 50 or 55, but the sooner you stop working, the lower your quality of life will be during your retirement years.

Start saving now!

The rule of thumb used by financial advisers is that if you start saving for retirement at the age of 25, you should save 15 percent of your salary each month to retire comfortably.

Never use your retirement savings before you retire

This advice applies particularly to women, who often stop working for a while to take care of the children, and cash in their pension at the same time. It’s a very bad idea to cash in your retirement funds early.

To read more on this topic visit us tomorrow.