Money Management – EDUINDEX NEWS

Maintaining your financial “house” is just as important as maintaining your real one—especially when it comes to planning for retirement. Get it in order with these tips, courtesy of Pentegra Retirement Services:
Analyze your current fixed (e.g., mortgage) and variable (e.g., groceries) expenses. Begin paying down debt. Forecast your future spending, and plan to have enough income in retirement to cover those expenses. Be prepared for the unknown, like long-term healthcare.
Contribute to Employer Plans 
Offered by employers, 401(k) plans are a primary source of retirement income for many Americans. Meet with a financial advisor to determine how much you should be contributing to your 401(k), and how you should be investing those contributions to reach your retirement goals.
Plan with Your Partner
Don’t rely on just your partner’s retirement plan to support you both. Plan jointly to get the maximum advantage from both of your plans.
 Remember: Asset Mix and Investment Risk
All investments have some level of risk associated with them. Keep inflation risk in mind, as well. Establish an appropriate asset mix for your age, situation and time horizon to retirement. Remember not to put all your eggs in one basket.
Save Early
Take advantage of compounding by starting to save as early as you can. People who start saving for retirement in their 20s are 66 percent more likely to retire before age 60 than those who start in their 30s, according to a recent study from Money Rates.
Source: Pentegra Retirement Services
A house can be an asset in retirement. Feel free to contact me for more information!