Starting Out: 20s and 30s
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.
But here's the thing: the retirement savings habits you establish now will serve you throughout your career, and putting time on your side by starting early will give you much greater freedom and flexibility later.
Here are some important considerations and 4 actions to add to your check list.
Gain Insight into the New World of Retirement
This is not your father's retirement; it won't be your children's either. Retirement – what it means and how we get there – is constantly changing. Understanding today's world gets your retirement journey off to a good start, and keeps you ready for changes on the way.
Time is your greatest asset. Understand now how to turn decades of future earnings into retirement security.
Do not dawdle in the meadow! Start hiking today. Set out on a trail today that will pay dividends later on!
You've got time on your side...you're building a career...your responsibilities are growing. Gain insight on how to grow your future while you're taking care of your present.
Collecting Social Security may seem a long way off – and you may wonder if it will be there for you when it's your turn. Separate the hype from the facts, and create realistic expectations about how Social Security fits into your retirement future.
There's always more to learn and new insights to be found.
Define Your Retirement
Define Your Retirement™ Tool
Visualize...retirement. Can you imagine what retirement will be like? Probably not. But the more you can define your retirement – what you'll want, what you'll do, what you'll spend – the easier it will be to start a plan NOW and stick to it.
Here's the straight talk: yes, you have expenses, pressures, concerns and everything else that needs your attention right now. But so does your future. The sooner you start, the more choice and security you can have later. Take action today – you will be glad you did.
You can pay now...or really pay later. Many people in their 20s and 30s worry that they can't afford to save yet. But you pay a price for waiting.
There's more than one way to create retirement security – and more than one tool to use along the way. Open the toolkit to understand every savings tool you have at your disposal. Discover all your options now!
It's not your father's retirement – and you probably shouldn't be in your father's fixed income fund. Age appropriate investing means taking on more risk when you are younger and time is on your side.
How should you put your strategy into action? Understand the products you have at your disposal.
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Share this page with your financial advisor and discuss your retirement savings strategy.
This material is provided for educational purposes only and does not constitute investment advice. The information contained herein is based on current tax laws, which may change in the future. BlackRock cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided herein or from any other source mentioned. The information provided in these materials does not constitute any legal, tax or accounting advice. Please consult with a qualified professional for this type of advice.