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Retirement planning can seem overwhelming, but it's important to start early and make a plan to help ensure you have the financial confidence you need in your golden years. Here are a few steps to get you started:

  1. Determine your retirement goals: Do you want to travel the world, spend more time with your family, or just relax and enjoy your hobbies? Knowing what you want to do in retirement will help you plan for the financial resources you'll need to make it happen.

  2. Calculate your retirement expenses: Make a list of all the expenses you expect to have in retirement, including housing, healthcare, travel, and other leisure activities. This will help you determine how much money you'll need to save to support your desired lifestyle.

  3. Estimate your retirement income: Consider all the sources of income you'll have in retirement, including Social Security, pension payments, and any savings or investments you have. Make sure to factor in any inflation or cost of living increases to help ensure your income is designed to keep pace with your expenses.

  4. Start saving and investing: The earlier you start saving for retirement, the more time your money has to potentially grow. Consider contributing to a 401(k) or IRA, or speak with a financial advisor to determine investment options for your situation.

By following these steps and reviewing and adjusting your retirement plan, you can help to ensure a comfortable and confident financial future. Happy retirement planning!

 

The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.  Any options are those of Martin “Bo” Brown and not necessarily those of Raymond James.  Expressions of opinion are of this date and are subject to change without notice.  There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct.  Investing involves risk and you may incur a profit or loss regardless of strategy selected.  Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment.  Prior to making an investment decision, please consult with your financial advisor about your individual situation.

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