Retirement Planning - It is Never too Late

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Retirement Planning - It is Never too Late
It sometimes feels life right now gets in the way
of saving for life in the future. Education,
family, unforeseen expenses all seem to be
conspiring to prevent you from saving for your
retirement.
This should not be the case. Richard Cayne of
Meyer International wants to remind you that it
is never too late to start planning and saving
for your future. After years of working, you
deserve a retirement that offers comfort and is
worry-free.
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Financial Planning Tips
Take Advantage of your Employment Retirement Plans
If your job offers a retirement fund in any
shape, try to contribute as much as you can.
Having that automatic deduction is easy, and you
will be surprised at how much can be saved. Often
your employer will also contribute, sometimes
equal to or more than your contribution. If you
are concerned about your job security or if you
may switch jobs, check the terms of the plan.
There are usually minimal employment periods
before you become vested, when the companys
contribution is automatically yours.
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Emergency Fund
You still need to have a contingency in case of
trouble now. A financial cushion is necessary so
that if something financially disastrous happens
you will be able to concentrate on recovering
from that situation. There is no exact
calculation, but the it is usually recommended
that you have enough to be without income for six
months.
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Pay off Debt
There are few, if any cases, where holding onto
debt is a good fiscal choice. Pay off your debts
as quickly as you can, so you dont have to worry
about the interest accruing and piling on to your
liabilities. Also consider consolidating your
debt and trying for a lower interest rate.
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Plan for Family Expenses
Nothing will put a halt to saving money than
unforeseen circumstances. Although it is
impossible to plan for every contingency, there
are some preventative measures you can take. Make
sure you have enough insurance coverage, both
health and life, and, if you have children, make
sure you have a plan for their education.
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Shop Around for the Right Retirement Plan
Depending on how old you are and when you plan on
retiring, you may choose a risky or a
conservative investment plan. No matter what, you
should have a plan. There will most likely be tax
breaks as more jurisdictions realise that
encouraging retirement savings good fiscal
planning on the individual and on the national
level.
To discuss planning further, contact Richard
Cayne at Meyer International
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So Many more Questions!
In addition to the points already covered here,
there are many more questions and considerations

• how much money will need for retirement
• where is the best place to spend your
  retirement
• tax implications before and after retirement
• what if you want to work after retirement

If you would like to have a more in-depth
conversation about your retirement, please
contact Richard Cayne at Meyer International.