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The Smart Way to Save for Retirement

Date : Mar 27,2014
By : Lizzie Weakley

When you want to have a financially secure and happy retirement, you must try as hard as possible. Fortunately, with this and a little research, you can retire in comfort and style. With this in mind, here are five smart ways to save for retirement.

Start early:

Without a doubt, if you want to stop working at a young age, you should start saving as soon as possible. A person who can start in his or her 20’s is likely to have amassed a small fortune in 20-30 years. You must think about it for a minute and realize how important it is to start early. Compound interest is great and will help a person make money off their existing savings. Luckily, even if a person has a low income, he or she can still sock away $100 a month in a savings account. When doing so, one will have a serious chunk of change, all with little effort.

Free money:

When saving for the future, you should take advantage of any free money. Some companies will offer matching funds for a 401k. With this, you can literally enjoy free money from your employer. For this reason, if you have a retirement plan at work, you should look at your options and consider signing up for a 401k and funding it as much as possible.


At the same time, when putting money away, you should think of taxes. Instead of just putting cash into a savings account, you should look at opening an IRA or 401k. With this step, you can save money and enjoy plenty of long and short-term tax benefits. Of course, if you are confused about the process, you should consider talking to a tax specialist who can help you figure out a plan.

Debt plan:

If you have debt, pay it off quickly. It is hard to enjoy a happy and healthy retirement if you owe a bunch of money to the banks. Instead, you should devise a plan so you can pay off your debts quickly. Remember, if you owe money, you will struggle to pay your monthly bills. To help solve your debts or credit issues, you can find reviews about or other companies websites.

Use money wisely in retirement:

Now, once retired, you should try to spend your money wisely. To do so, you should shop around for great deals, use credit wisely and make a lot of meals at home. Simply put, if you can stretch your dollars, you will enjoy life more.

With these five tips, you can save for retirement and enjoy it more when the day comes.