At NestEgg U we like to narrow our focus on one piece of the retirement puzzle each year and 2014 is the year of the Planner. You can be a planner at 25 or at 65; it doesn’t matter your age. What does matter is that you are planning for your retirement.
Let’s examine what makes a good Planner. First, good Planners are trying to increase their savings rate each year. The Melton Truck Lines 401(k) plan allows you to defer (contribute, save) up to 50% of your pay into the plan and Melton Truck lines matches 50 cents of every dollar up to 7% of your pay. I’m not saying you need to save 50% but have you thought about increasing your deferral percentage lately? Remember, the more you save, the more you have for your retirement.
A good Planner takes care of the details. Is your beneficiary designation up to date? Changes happen in life and it is wise to make sure that if something were to happen, your hard saved dollars go to the right person.
A good Planner evaluates investment choices each year. Are your investments appropriate for your age and situation? Did you have a game plan? Regardless of age, everyone should have a general plan of how they’re going to get to retirement. That’s why NestEgg U is here to help you.
Remember, retirement is more than a date on the calendar; it is a process. The many years spent preparing for retirement are just as important as the years spent enjoying it. Be a Planner in 2014.
To submit a question that you would like to have answered in next month’s blog, email me at email@example.com. To access your account, go to www.nesteggu.com/melton. If you have specific questions about your account please feel free to call me anytime at 918-499-8604.
The road doesn’t wait, get started today.