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Comments about ‘6 ways to prepare for retirement’

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Published: Tuesday, Aug. 12 2014 5:10 a.m. MDT

Updated: Tuesday, Aug. 12 2014 4:06 p.m. MDT

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carlyt
ny, NY

The key is to start saving/investing early in life and be consistent (save with every paycheck). The power of compounding is lost on many people. Also take advantage of any employer matching plan, max out contributions when possible, eliminate debt, avoid risks with your nest egg and plan for multiple streams of income once retired (social security, pensions, dividends, part time work, etc.). And make catch up contributions once you reach 50. I use several sites for retirement information including Dividendchannel, ETFchannel and the site Retirement And Good Living which provides information on planning and investing as well as finances, health, retirement locations, part time work and also has a great blog of guest posts about a variety of retirement topics.

sally
Kearns, UT

For those who have used up all their money with covering many emergencies in life might try what we did. We zeroed in on what we would have to live on during retirement, then set up a budget for success at that amount. We then lived on it for six months to work out the glitches and saved everything else. We have been surprised at how well we have done. By saving the extra money we now can cover major emergencies as they come along. This did require some changes in our lifestyle, but it all worked out for the best.

Dr. Thom
Long Beach, CA

Oddly the article doesn't talk about people who have been out of work since 2008, have used all their saving, 401K and retirement money just to survive and now at 60 cannot find another FT job. Reminds me of the Steve Martin line about how to live on a million dollars a year

"First, you get a million dollars..."

Rock Of The Marne
Phoenix, AZ

Try not to catch "Affluenza."

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