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Three ways to ensure you have a comfortable retirement

by , 26 October 2015
Three ways to ensure you have a comfortable retirement
When you're young, you have hopes and dreams for the years that lie ahead. Retirement seems a far off notion that you won't have to worry about now.

As you age and you creep closer to retirement age, the reality dawns that you may not be in a financially sound position to ever retire. Things aren't quite like you envisaged them.

But you can make changes now that will help you live a comfortable retirement…

What are your goals for retirement?

You goals for retirement will obviously be personal to you, but it’s likely to include owning your home outright, having money in savings and other assets, and an income that will support you through retirement.

So where do you stand now?

If your retirement dream is very much different to your retirement reality, you need to start making changes now. Knuckle down and you can have the retirement you want.

How to make your retirement dream a retirement reality

There are three key things that you can do now that will help you achieve your retirement dreams, Mark Ford in Palm Beach Daily explains…

#1: Debt
You need to get rid of debt. Debt is a drain on your resources, so you must pay it off and be debt free as quickly as you can.

#2: What you do with your money
You need to look at how you spend, save and invest your cash.

This means cutting down your spending to the essentials, then saving and investing the rest for your future.

#3: Find other sources of income
You need to look at other ways of increasing your income. Think about getting another job you can do as well as your current one, starting a business or investing in property.

To make these changes requires a lot of work on your part. You need to make lifestyle changes and make sure you’re really putting your money to the best of its abilities.

Not everyone will be able to make these changes and stick to them. But if you do, give it a few years and the changes in your financial situation will be proof of how they’re already paying off.

So there you have it. Three ways to ensure you have a comfortable retirement.

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Three ways to ensure you have a comfortable retirement
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