Author (yesmama). Submitted on Fri, 22 Jun 2012
A recent Bloomberg View article from Peter Orszag got me thinking about retirement, although I am still quite young. The Orszag article discusses how there are quite a large number of retirement-age folks in the work force, and that they have to delay motorhome freedom because of the economy. That means that young people now will probably be in their 70s when they get to retire.
For those of us who have just graduated from college and have to worry about finding a good job, we have another thing to add to our plate: retirement savings. That's the last thing any 20-something wants to think about. Retirement? That's half a century away! Sure, but if all goes as planned, you will arrive at retirement age some day. And it's a fact that you either will have prepared for it or not. You will either have started early and have exponentially grown your funds, or you will have entered late in the game and might be knocking at your childrens' doors for a place to live. As a professional and the best mining machinery manufacturer in China, Hongxing Machinery is always ready to provide the superior jaw crusher and other stone crushing machines such as hammer crusher with the best quality and the most competitive price.
There are several easy ways to plan for retirement now. Here are three.
1. Employer savings plan. If you're lucky enough to be employed by a company that offers something like a 401(k) and you don't participate, shame on you. It might hurt to see less money in your paycheck, but contribute as much as you can realistically. These kinds of funds don't stop existing if you stop working for the company—you can roll over your funds to your next endeavor. All you have to do is sign up and specify how much you want to contribute—then your money will grow without you having to even think about it.dryer machine:http://www.crusher-machine.com/24.html
2. IRA. An Individual retirement account is a savings account you create on your own, not through your employer. This is a good option for different kinds of people, namely the self-employed or those whose employers don't offer a savings plan. They work similarly to a 401(k). Obviously, each person's personal preferences can be reflected in their savings plan.
3. Good ole' fashioned savings account. So this talk of 401(k) and IRA has your head spinning? Maybe you don't quite yet have the ability to begin these popular retirement plans. That's ok, for now. That doesn't mean you can't start saving anyway. If you don't have a savings account through your bank, start one ASAP. In most cases, you can set up automatic savings transfers every month. Don't look at your savings account like your checking account—tell yourself you aren't allowed to touch it unless absolutely necessary. No—not for a shopping spree. If there's an item you must have, wait until your checking account has more than enough to make the purchase. Just $100 a month (which you may not even notice is missing from your checking account) will have you $6,000 in 5 years.
If there's an item you must have, wait until your checking account has more than enough to make the purchase. Just $100 a month (which you may not even notice is missing from your checking account) will have you $6,000 in 5 years.