What is Your Retirement Outcome?
Your retirement outcome is directly dependent on your current savings and investments plan. Do you know your retirement outcome? If you do not know, you could very well be among the 95% of Americans who are not financially independent at age 65 - this according to a study conducted by the U.S. Department of Commerce. In addition, the government's study also showed that a dismal 25 percent of all retirees are able to avoid dependence on Social Security, family and friends as their only sources of income. To make sure your retirement outcome is the one you desire, read on.
The best way to discover if your retirement outcome is on target, is the use of a retirement calculator, like the one found at retirementcalc.com. Using this calculator will help you to identify any shortfall now before it is too late. Generally, you will need at least 75 percent of your pre-retirement income to ensure a comfortable retirement, according to most financial experts. Once you know where you are and where you need to be, the next step can be taken.
The next step is to educate yourself about finance and investing. You should start your financial education by reading finance magazines, newspapers and web sites. Attendance at investment classes is another great option. Two national nonprofit organizations that offer low-cost investment education classes are BetterInvesting and AAII. You can also check the course offerings at your local college. Webinars and Webcasts can provide a convenient source of financial education as well. Retirementcalc.com has plans to bring this education option to you in the near future.
Also consider a FREE subscription to Financial Tips & Hints, which is a monthly newsletter provided by Retire Fast. The newsletter mission is to help you, the individual investor, become informed and empowered to take over control of your investments. If you have a particular investment or financial question you would like answered, the Financial Tips & Hints newsletter can answer it. Subscribers are encouraged to submit questions or topics they would like to see covered in the newsletter. In addition, Bob's Free Retirement Calculator is included at no additional cost for all Financial Tips & Hints newsletter subscribers.
Above all remember that your education is a lifelong process. Do not expect to know everything you need to know overnight. As author Brian Adams once said, "Learn the art of patience. Apply discipline to your thoughts when they become anxious over the outcome of a goal. Impatience breeds anxiety, fear, discouragement and failure. Patience creates confidence, decisiveness, and a rational outlook, which eventually leads to success."
Bob's Free Retirement Calculator will help you to become a confident, decisive and successful retiree. You have worked hard for what you have; do not let your retirement outcome be compromised. Take the next step toward your secure retirement today. Retire Fast. will provide the education; the rest is up to you.