Shelly's Modeling Agencies | Financial Security | Hot Topic

Shelly's Modeling Agencies 6 easy steps toward a financially secure retirement. Our hot topic suggests that when it comes to getting on the path to financial security, it's important to remember that wholesale life changes are not necessarily required. Saving for the future is sort of like a healthy lifestyle-small changes implemented consistently over time can yield big results. Here are six steps you can take now toward a financially secure retirement:

1. Create a realistic plan-and don't just think to retirement, think through retirement. Creating a financial plan focuses you on where you want to go and what you need to do to get there. Think about when you want to retire, where you will live and what you will do. Remember, you could spend 30 years or more in retirement. Creating a plan for how to make your savings last is critical. Focus on your basic living expenses and consider critical factors like inflation or health care costs. Money you save above and beyond the basics can go towards "nice-to-haves" like travel.
2. We at Shelly's Modeling Agencies suggest that you resist spending/impulse purchases. Being more mindful and thinking twice before making a discretionary spend can make a big difference in your savings account over time. One way to find money is to spend less on "nice to have" items like electronics, designer clothing, eating out and even those addictive coffee drinks. Making more thoughtful and deliberate choices about how you spend and save money can make your money work harder for you.
3. Don't forget to pay yourself. If you can, have money directly deposited from your paycheck to a retirement plan or other savings account. Even putting away a small amount of money on a regular basis can make a big difference long term. The earlier you start investing, the more time your money has to grow.
4. Maximize your employer's retirement plan. If you are not maximizing your 401(K) or 403(B) plan, you are potentially throwing away free money-in the form of tax-deferred savings and a company match. Depending on your age, you may be eligible for a "make-up" contribution. Even if you cannot afford to maximize your company's plan, contribute as much as you can-every little bit counts.
5. Diversify your portfolio. We cannot control the financial markets, but history has shown that one sector or asset class may perform well one year and not so great the next. The best bet for good long-term performance is to diversify your savings across the right mix of assets-particularly one in line with your risk tolerance. You may also want to consider products like annuities that can provide sources of guaranteed lifetime income or insurance to help protect your family's financial future.
6. Don't hesitate to get professional help. You don't need to go it alone-a qualified financial advisor can make all the difference. There are a number of services that will provide information about financial advisors in your area such as the Financial Planning Association, the Certified Financial Planner Board of Standards, and the National Association of Personal Financial Advisors.

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