Many people ask about ways to save for their retirement. They research many options and analysis their choices “until the cows come home”. While you want to be sure to make the right decision, the challenge that people have is that they take no action. They are so afraid of making the wrong decision that they make no decision at all.

Best Approach To Saving For Retirement

Are you ready? Here it is. It is very simple - Just Do Something. What ever you do today is probably the worst it will be. Remember the post we had about the power of compound interest? Well the best way to use this power is to start today. Contact your Human Resources Department to see if you company has a 401K program. Also ask if they match your contributions. That is even more powerful. Every month you delay you could be losing money by not taking advantage of company matching program.

Sign Up For Auto Payments

The easiest way to save is to do it automatically. By signing up for auto payments that come out of your paycheck or your checking account is that it happens without you having to think about it. The way I saved the amount I did in 7 years was mainly due to auto payments. I set them up and they did all the work. I only had to come back once a quarter and see how well things were doing.

What About You?

Have you found a better way to save for retirement? If so, why not share this with other readers of this blog.

Until next time…

Today, we wanted to just add a little fun into the regular presentations we have been posting here at Retirement Cures. This year as you may have known, Bill Gates decided to retire. While most of us are not in his financial situation for retirement, we thought this little excerpt from David Letterman just might brighten your day.

Tell us your thoughts. (Keep it clean Mac owners )

Until next time…

A few years ago there was a new trend in the United States. For the first time in the country’s history over 50% of the population was over the age of 50. With that in mind the big question is are these Baby Boomers ready for the retirement years that are roughly ten years away.

Retirement Savings

While there is a lot of information bouncing around in the news, we thought we would look at what was being reported. In a USA Today article, we saw that 97% of those who reach the age of 65 don’t have more than $600 in the checking accounts. Not a good thing if you are wanting to retire.

In other news, we discovered that many Bobt Boomers had on average $60,000 saved in their Individual Retirement Accounts (IRAs). This may sound a lot better because they saved 100 times more, but a couple of things need to be kept in mind. First, this money is fully taxable when it is withdrawn from the account. While it may not be taxed at the same level it would have been when earned, it still is similar to taxable income.

Second, taxes aside, if you invested this money in a mutual fund at 12% interest, you would get $7200/year in income. If you got only 8%, then it would be $4800/year. This amounts to $400 to $600/month in income. Can you live on that? Not too many people can.

What Can A Baby Boomer Do?

If you are at a point that may seem like there’s no hope at the end of the tunnel, then we would recommend that you take time to get the FREE Retirement Cures Audio Training. This could help get you started down the right path to developing a comfortable retirement and not have to be totally dependent on social security.

If the numbers above describe your situation, the time is of the essence. I know things may seem bad, but it doesn’t have to be. There are things you can do right now which we cover in the Free audio training.

Life is something everyone should look forward to living each day.

Until next time…