Most people retire between the ages of 62 and 65, but earlier retirement is also common. Here are some important things you should know for a happy retirement.
• Start saving for retirement early. If you hope to have a comfortable retirement, starting now can help to ensure that you likely will save enough for retirement. The younger you are when you begin to save for retirement, the less money you will have to save each month over the course of your lifetime. Also, your investments will have more time to grow.
• Make a plan. Knowing that you have prepared for retirement can ease some of your fears and give you a clearer picture of your future. The earlier you begin to plan, the sooner you will reach your retirement savings goal. If you have not started to plan yet, keep in mind that you are never too old to invest in your future, so start now.
• Know how you will achieve your goals. Retirement planning allows you to identify and establish your retirement goals and create a plan to achieve your goals.
Sources: College of Family and Consumer Science, College of Agricultural and Environmental Sciences
