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Monday, March 2, 2015

Retirement planning questions

Two thirds of Americans do not save enough for retirement according to Bankrate.com. This is due to many reasons, but it indicates potential problems such as overspending, poor debt management and insufficient income. In any case, saving something on a regular basis is better than not saving at all and most people can redirect some of their spending into a retirement savings plan of one kind or another. 

The infographic below illustrates some additional considerations to take in to account when planning including time horizon, how much to save and the effect of inflation. As with many things in life such as education and career, retirement also takes planning. The requirements for doing so differ based on financial goals, age and income among other things. Being aware of these factors helps with the process of preparing for later years.

4 Questions to Help You Plan Your Retirement - An infographic by the team at Fisher Investments