At the end of a long career, many of us have dreams about what we want to do with our free time. Some people want nothing more than a quiet river to fish in, and a porch to sip whiskey on. Others hope to put their free time to good use, helping out with charities and nonprofits, or even starting a new career as a teacher. No matter what your goal, planning for your retirement is one of the most important things you can do to make sure that your dreams come true.
In most developed nations, care for the retired and elderly is provided by the state, with supplements coming from the employer. In the United States, the main source of funds for the retired is the employer, with only a small portion coming from the government.
In the case of the United States, it is important to note that in many case the pension (or superannuation) plan that your employer provides is not the only option. In many cases, you can take that money and invest it yourself in a plan that you feel is better directed towards your interests.
But do not take that investment lightly. Planning for retirement is one of the most important things we can do, and should be started at a much earlier age than many people realize. One of the most unfortunate things in the world is a member of the US populace who has put his or her whole life into their job being unable to support themselves after retirement.
In fact, this is the case all across America, but if you begin soon enough, you should be able to stop this misfortune from ever happening. Budgeting for a retirement plan, setting aside a certain amount every year and every month, can ensure that you fulfill all your goals after your working days are done.
Set budget goals for yourself. If your employer offers a pension plan, will it be enough? Do you need to take your money and put it in some other form of investment? Or should you add to you plan by setting aside another investment, separate from your employer's?
These are questions that you should be asking yourself now, while you are still generating income. It is never too soon to begin your retirement planning. Start today and you will not regret it tomorrow.