What does retirement security mean to you?
MINT HILL, NC – October is National Retirement Security Month. If you are still working, what can you do to help yourself achieve security in your retirement years?
To get started, make regular contributions to your tax-advantaged accounts, such as your IRA and 401 (k). And invest enough in your 401 (k) to win your employer’s match if they offer you one.
Also, look for ways to potentially increase your retirement income. If necessary, you could delay taking Social Security to maximize your monthly payments. You might also want to consider investment vehicles that can provide you with income for life.
Here’s another tip: Plan for health care expenses, which could reach several thousand dollars a year during your retirement. You might also consider purchasing insurance to protect yourself against the costs of long-term care.
And to really feel secure in retirement, make sure your estate plans include measures to protect your finances should something unexpected happen to you. Review these plans with your legal and financial professionals, and perhaps also with your tax advisor.
Taking these and other steps can free you up to help you enjoy what can be one of the most rewarding times of your life.
If you have any questions, please contact me at (980) 859-2549 or email me at [email protected]
This article was written by Edward Jones for your local Edward Jones financial advisor.