Save yourself from Retirement Poverty! 1
Save money, and let it work for you, if you're still working, sock money away now. You may not think so, but it ‘s easier to live below your means while you're bringing in a salary or consulting fees than it is when you're living on investment income. And while you're still working, you can let your money work for you too. Don't let your sayings wither away in cash—put it into a productive investment such as stocks or bonds.
Max out your company’s match on Registered Retirement Savings Plan (RRSP], if there is one. Don't miss the opportunity to put your money in this tax-advantaged retirement account. Not only are your contributions tax-free, but many employers will match contributions if this is the case, you're turning down free money if you don't make contributions.
Establish a “trusted coach" relationship.
Some of us hire a professional financial coach; others use "life coaches. ‘Still others have an Attorney, accountant, or a financially knowledgeable friend who plays this role. No matter where you find one, it ‘s helpful to have someone you trust help you evaluate financial decisions.
Find someone among your friends and acquaintances that will tell you what you need to hear and not what you want to hear. it can be a professional or simply someone who ‘s knowledgeable about finance who knows you well and you feel comfortable with.
it's one of those things you can so. easily put off. Don't. Getting a will drafted and signed is generally not costly, and it ‘s the simplest document among the ones in broad use tor estate planning.
Have a will in place now.
HOW. There ‘s no set schedule for this. Whenever things change—marriages, divorces, graduations, etc.—look at what you wanted last time to see if you still feel the same way, even if it looks as though you think that nothing's charged. If you haven't looked over your will tor three years, it ‘s almost certainly a time for review.
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