Retirement planning may be broken down into five phases. Each phase has its own goals and presents its own challenges. Read through to understand proper retirement planning as a whole, decide which phase you are currently in, and then take careful consideration of the tips for that phase.<\/p>\n
Phase 1: Accumulation<\/strong><\/p>\n This phase may begin as early as your first job, or at least your first full-time job. If your employer offers a retirement plan such as a 401(k) or 403(b), sign up for it right away. Because the accumulation phase lasts a long time, it can be tempting to postpone retirement account contributions. But time works in your favor to compound investment proceeds and grow your nest egg.<\/p>\n Does your employer offer contribution matching? If so, you should make every effort to contribute the amount required to maximize this matching. Otherwise, you are leaving money on the table. Beyond that, try to raise (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Retirement planning may be broken down into five phases. Each phase has its own goals and presents its own challenges. Read through to understand proper retirement planning as a whole, decide which phase you are currently in, and then take…<\/span><\/p>\n