Excuses Will Not Get You To Retirement
When the financial markets are so volatile it’s easy to make excuses for why you will never have enough money to retire. But that’s as far as the excuses go because investors are retiring every day even in these turbulent economic markets.
If you truly want to retire someday, you have all of the controls, even if the markets run up or down. You need to avoid the excuses and focus on what you do control. You need to look at your investment opportunities from a more positive approach. Grab the control and get ready for your retirement.
Take Control Of Your Financial Life
#1 – How Much You Invest Is Within Your Control
You control where your pay check goes, right? You control how much of your money you spend and how much you invest. Remember, it’s not what you make but what you keep that counts when you are ready to retire.
Pay yourself first. The best way to pay yourself is by investing in your future. Your retirement is your future. Whether you are retiring in 10 years or 30 years, retirement is in your future. Stop spending on today’s wants and start saving for your retirement.
#2 – You Control Where You Invest
There are no excuses for not having enough investment selections. There are enough different types of investments on the market today to satisfy every investors needs. You can find many investments with tax advantages and some with free money.
You should take advantage of as many tax advantaged investments as you can. Your retirement accounts are tax-deferred and that is a big tax advantage. The nice part about tax advantaged investments is that they usually delay taxation until you actually withdraw the money at retirement. This tax delay or “tax-deferral” allows your investments to grow faster because 100% of your investment is growing since no taxes are taken out to reduce your investment dollars.
If your employer offers a 401k plan, invest as much as you possibly can into that plan because the tax advantages offered through 401k plans. Another advantage is if your employer matches, you get free money.
#3 – How You Invest Can Be Within Your Control With Help
If you invest your money into investments that offer low rates of return than you may not have enough money to retire. So you may want to talk with a financial planner about your risk tolerance.