The most important component of retirement savings is to start as soon as you can. The power of compound interest requires time to work its magic, so the more time you have, the more your money will grow. If you have a Pension Plan, begin saving as much as you can. Every little bit helps. In addition to saving money for retirement, by making these contributions you’ll also be reducing your taxable income today.
Aside from starting early, the biggest obstacle in saving for retirement comes down to the investments. Where should you invest? How do you know if your investments are appropriate? Investing doesn’t have to be complicated as long as you do your research. The FSC encourages persons to talk to an independent financial advisor today. This person will be able to guide you towards an investment strategy to suit your needs.