Q:

What is some good advice for retirement?

A:

Quick Answer

The best way to plan for retirement is to start early, stay persistent and diversify investments, according to Barry Glassman for Forbes. While Glassman admits it helps to start with a good job, he insists that simply relying on a good salary is a mistake.

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Full Answer

It is never too early to begin saving or to begin planning for retirement, says Glassman. It can only help to begin thinking about retirement goals and begin learning about options for saving at any age. Using a calculator such as the Bloomberg Business 401(k) Savings Calculator helps for getting an idea of retirement goals and deciding how to reach them. It is also a good idea to determine a consistent percentage or amount to put aside to keep on track.

It is crucial to resist the temptation to dip into retirement funds early. No matter how good a person's job, this type of behavior can leave him stuck in a rut, insists Glassman. It is also unwise to rely solely on Social Security and a 401(k) rather than diversifying and fortifying investments. Speaking with qualified professionals or successful personal acquaintances can garner advice that may bolster a person's chances of enjoying a worry-free retirement.

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