When planning for retirement, you may have heard people reference their “retirement bucket.” You may ask yourself, “what is the Bucket?” It’s the way we at NestEggU like to think about retirement. The Bucket has three parts, the outside, the inside, and the handle. Each part of the bucket represents a different part of your retirement. The outside represents your dreams and goals for retirement. The inside represents the money that you are saving for retirement. The handle represents two things, first, that we all carry our own bucket and we’re responsible for what we put in it and second it represents the fact that your plan is portable and you can take it with you.
What does a bucket have to do with your retirement? More than you think. You see, the bucket is really just a metaphor for retirement planning. Without a solid retirement plan, you will have a hard time navigating your way through life’s twists and turns. At NestEgg, we understand that not everyone is in the same place in their life. Maybe you’re just starting out or maybe retirement is right around the corner. Wherever you are in your career, it’s never too late to start filling your bucket.
The first step in personalizing your bucket is to understand what you want to do when you retire (the outside of the bucket). Maybe you want to travel or maybe you want to restore classic cars, no matter what you want, you’ll need money to make your dreams a reality. The next step is to begin contributing to your 401(k) (the inside of the bucket). From there, it is important to keep a tight grip on the handle and monitor what is going into your bucket.
The bucket it yours, make sure it is full enough to allow you to retire comfortably.
No matter where you are in your life, NestEgg is here to help you plan for retirement. If you have been thinking about starting, considering a change, or just want to learn more about how to be successful in retirement, please reach out to us.
The road doesn’t wait, get started today.