Saving for retirement is often touted as easy and simply a case of putting your mind to it. For something that is supposedly so easy, a large portion of the population fails to do it year after year. If you're waiting for that magical time period where tucking $15,000 or more per year into your nest egg is going to become gleeful second nature, well you'll be waiting a long time. Saving is hard and there are a lot of hard choices you need to make in order to effectively save for retirement, especially if you are low income.
Creating a financial plan and sticking to it is one of the best choices you can make for yourself. Whether your plan is aimed at retirement or other personal financial goals, having a focused, goal-oriented system in place can deliver the confidence you need to stick with it. Still, in your rush to throw together a financial plan there are some things you may overlook or leave out that can be detrimental to your success, or at the very least your enthusiasm.
We are a professional financial services firm located in Sanford, Central Florida.