Your Retirement Life Path
No matter where you are in your career, whether you are just starting out or have already picked a retirement date, the responsibility for building a secure retirement is yours. Fortunately, there are plenty of actions you can take right now to navigate the new world of retirement. Just choose the age group below that best describes where you are on your journey.
Yes, it is a new world of retirement. The retirement advice that guided previous generations needs to be rewritten for today's reality. The problem is that your future refuses to wait while you figure it all out.
Whether you're fresh out of college or ten years into the workforce, your first thought about retirement is probably...that it's very far off. That's understandable. Right now you're thinking about your career, perhaps starting a family or buying a house. It's not easy to imagine what your life may be like in your 70s.
Remember when your biggest challenge was where to go after work on Friday? Today, you have growing responsibilities in your career and in your personal life. And – especially if you started saving early – a significant balance in your retirement plan savings. If you didn't, don't despair. There is still plenty of time if you get serious about saving right now.
i Annuity 2000 Mortality Table, Society of Actuaries
ii Liz Weston, MSN Money, Your 20s: Planning pays off richly, October 24, 2011
iii BlackRock's Annual Retirement Survey, May 2012
iv Employee Benefit Research Institute and Mathew Greenwald & Associates, Inc., Retirement Confidence Survey, 2010
v Blackrock: Informa Investment Solutions