Even though many people have the desire of stopping at work in the future, there are still so many people who doesnt start their financial planning until they have been working already for several years. With the fact of high cost living today, it is essential for people to start on the process of setting aside money as soon as possible for their retirement. Recent studies shows that about 4 - 5 employees have access to firms that are sponsored with 401k or a similar kind of planning. However, there are more than 4 out of 10 employees that have no pension or have any long-term savings. Whatever the kind of method of saving you prefer, there are different reasons as to why you must start today.
Most people that receives social security usually gets around $17,000 every year or about $ 1,350 every month. For most people, this is not enough money for you to live comfortably. Also, you cannot start to receive social security benefits until you have reached the age of 62. This means that when you retire at a much earlier age, you will need to rely on your personal savings or pension.
Together with the regular expenses like mortgage payments, insurances, groceries and entertainment, a retiree will likewise face the constant increase cost on health care. Another is with insurance premiums to where couples that retires at the age of 65 could expect around $600 every month on average for their medical procedures, medications and check-ups and when they reach the age of 75, the cost is going to be higher next.
What was stated in the article above are some of the negative things that you could potentially get when you don't have proper Reno NV investment planning. However, people who have a secure plan are able to live longer and happier. This coupled with no work means that you will get huge amounts of time for leisure and recreational activities.
When you are financially secure, you could visit your relatives who are living out of town regularly, go on vacations across the country and you could even go to high-end restaurants regularly. For more facts and information regarding financial and retirement planning, you can go to http://www.ehow.com/how_4579034_become-feeonly-financial-planner.html.
In other words, Reno NV retirement planning is really important for a healthy, stress-free and also for a timely retirement. When you save earlier and the more that you save, the less you will worry on your retirement in the future and also the better your life on retirement will be.