It’s a new year! Time to commit to changes, to new habits and set new goals. Diets and exercise always are big ticket items on the New Year’s list but we hope you will also take a look at your retirement planning with your RetirementView Software. Plug in your updated figures and see what the picture shows. Do you see lots of green? We hope so. That’s why we do what we do here at Torrid. We want you to retire confidently, knowing exactly where you stand in light of your goals.
If you don’t see lots of green on your chart, what needs to happen to grow your green…get the double entendre? Ha!
Not to negate the diet and exercise! Going into retirement healthy will ultimately save you lots of money in the long run by skipping much the healthcare costs often assumed to accompany aging.
Rodney Brooks recently penned an article in USA Today listing 5 things to do now if you’re near retirement. We’ll summarize on this page or you can read more about it HERE.
What 5 Steps?
Look at Your Financial Plan
Do you already have one? Update it. If you don’t have one, now is the time to make one. It should include the areas of investments, income, tax, health care and estate.
Review Your Credit Report
In light of all the security breaches as of late, it’s a good idea to just check things out. Pay particular attention for signs of identity theft and fraud.
Start an emergency fund
No one can predict the future. You can plan as much as possible to protect yourself, but a stash of liquid resources might just prove invaluable. It’s one great way to protect yourself.
Max out your contributions
Take advantage of every cent you can squeeze out of your 401k matching. You will be able to contribute a max savings of $18,000 to your 401k. If your company matches that…gravy…and who doesn’t like gravy?
Rebalance your portfolio
Take a look at your investments. Do you need to increase or decrease your risk factor? You might want to sell of some of your winners and reinvest the cash to help maximize your retirement savings.
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