This information is brought to you by

Sherry Cynowa

RE/MAX Platinum

When to Start Thinking about Retirement? Yesterday

With countless financial obligations each month, it’s understandable why most people put off saving for retirement. In fact, according to, half of all American households have no retirement accounts at all.

Even if you’re on a tight budget, however, saving for retirement is possible. Try these five tips from Pentegra Retirement Services.

1. Start as early as possible
People who started saving for retirement in their 20s are 66 percent more likely to retire before age 60 than those who started in their 30s, according to a recent study from Money Rates.

2. Take advantage of employer retirement plans 
If you’re lucky enough to work for a company that offers a 401(k) plan, jump on it. Meet with a financial advisor to determine how much you should be contributing to your 401(k) and how you should be investing those contributions in order to reach your goals.

3. Budget wisely
Be precise in your budgeting process. Start by getting a handle on your fixed and variable expenses. Determine your debt-to-income ratio and start paying down your debt, prioritizing debt with the highest interest rate. Think about how your expenses will increase in the future and come up with a plan for covering those expenses. Determine how much you can comfortably afford to contribute toward retirement.  

4. Consider risk and mix it up
All investments come with some level of risk, so mitigate that risk by coming up with the appropriate asset mix, taking your age, situation and time left until retirement into consideration. In short, don’t put all your eggs in one basket.

5. Remember, it’s a joint effort
According to a recent Harris Poll of 1,800 Americans, 36 percent said their partner is saving for retirement, but most had no idea exactly how much. Don’t just rely on your partner’s retirement—plan jointly to secure a comfortable retirement.Taking that first step can be the hardest, but once you have a game plan, your odds of retiring comfortably can only increase.

To learn more about saving for retirement, contact me today.