It’s never too early to start planning for retirement! Even if you’re in your 20s or 30s, now is the time to start saving and investing for the future. While it may seem like a daunting task, retirement planning doesn’t have to be complicated or expensive. In fact, with a little bit of research and some basic financial knowledge, anyone can get started on the path to a comfortable retirement.

Here are a few tips to get you started:


Start Saving Early

One of the best things you can do for your future self is to start saving early. The earlier you start saving, the longer your money has to grow. If you’re in your 40s or 50s and haven’t started saving yet, don’t despair—it’s never too late. 

A good rule of thumb is to try to save 20% of your income each year. If that seems like too much, start with whatever you can afford and gradually increase your savings rate as your income grows and debt dwindles. Another helpful tip is to automate your savings by setting up regular transfers from your checking account to a savings or investment account. This way, you’ll never even see the money and will be less tempted to spend it!


Choose the Right Retirement Account

Once you’ve started saving, it’s important to choose the right retirement account for your needs. If you’re employed by a company, you may be eligible for a 401(k) plan. These plans offer tax breaks and sometimes even employer-matching contributions, which makes them a great way to boost your savings.

If you’re self-employed or don’t have access to a 401(k), there are still plenty of other options available. Individual retirement accounts (IRAs) come in several different varieties, including traditional IRAs, Roth IRAs, and SEP IRAs. Each type has its own rules and benefits, so it’s important to do some research, consider working with a financial planning and investment management firm like ourselves, and then choose an option that’s right for you.


Invest Wisely

Once you have some money saved up, it’s time to start thinking about how to invest it. When it comes to retirement planning, time is on your side—the longer you have until retirement, the more risk you can generally afford to take with your investments. 

Retirement planning doesn’t have to be complicated or expensive—anyone can do it! By starting early, automating your savings, choosing the right retirement account, and investing wisely, you’ll be well on your way to a comfortable retirement. We welcome the opportunity to have a conversation with you about your own retirement planning. Please check out our “Contact Us” page to schedule a meeting to discuss!


Any opinions are those of Rademacher Financial, Inc and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with us at Rademacher Financial, Inc. about your individual situation.
The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation.

Rademacher Financial, and Raymond James and its advisors, do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.