Retirement is something that most people think about, regardless of their age. Whether it’s to obsess over their savings or plan what to do during their golden years, many people spend a great deal of time thinking ahead. Most company pensions are a thing of the past, and some younger folks express skepticism that retirement benefits provided by the Social Security Administration will be sufficient (or available at all) by the time they retire. For those looking to get a head start on retirement planning, financial wellness programs can provide many valuable tools, information, and insights.
Start Retirement Planning at Any Age
When it comes to retirement planning, it is best to start early. Plenty of young people start saving for retirement early on. However, that does not mean that those who are older should stick their heads in the sand and hope things work out for the best. People of all ages can benefit from financial wellness programs that focus on retirement planning. Whether you are in your twenties and looking to get a head start or are in your fifties and trying to play catch-up, financial education can help you adequately assess your current finances and plan for the future.
Learn the Ins and Outs of 401(k) Plans and More
One of the things that can make retirement planning so daunting is the sheer amount of options available for saving and investing. Company 401(k) plans are a popular offering that can provide even more significant benefits when employers offer contribution matching. Other savings and investment options like IRAs, Roth IRAs, GIAs, and more can help workers make the most bang for their buck. Financial wellness programs can help workers learn the ins and outs of these plans so that they can make the wisest decisions possible.
Assess Debt and Savings
For those who have credit card debt, student loans, or other types of debt, taking a hard look at these balances is a crucial step in retirement planning. If you have a lot of money in savings, but your credit card debt or home loan is massive, you may not be in the good financial shape you think you are. Financial wellness programs can help you assess your debt, savings, and other factors that can influence your retirement.
Take Control of Your Finances with EveryIncome
EveryIncome is dedicated to providing our clients with career and finance management tools to help them create a stable financial future. Regardless of where you are in life, our system of tools and guided learning is tailored to fit your specific needs. Take control of your financial health today. Contact the team at EveryIncome online or give us a call at (571)370-5400. For more tips and tricks to foster financial wellness, follow EveryIncome on Facebook, Twitter, and LinkedIn.