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Get ready for retirement

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It’s hard for you to think of retirement as far away before you grow up. If you are a healthy young man, now is the time to plan for retirement and save money.

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Many people who started out in the middle of the last century insisted on working for a company for 30 years, and they could get a considerable pension when they retired. As with your work, the federal government also pays part of your social security benefits and income during your retirement. If the retirement period is only maintained at the average level of 10 to 15 years, that is no problem.

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But if you haven’t celebrated your fortieth birthday yet, the situation may be quite different. You may change employers much more frequently. Unlike those who retired before 2000, if there were no pension and social security benefits, your retirement income would be very low.

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Also consider the fact that you may live a long time. If you can take care of yourself, you can easily live to be 100 years old. Maybe you already know. Have you ever thought of such a thing? If you retire at the age of 65, live to be 100, and have no job, how can you survive the remaining 35 years? Maybe you haven’t turned 35 yet! You haven’t worked for a long time.

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You need a lot of money. Optimistically think that your final savings will be enough to frighten you. Considering inflation and your desired lifestyle, when you retire, your money may really have to exceed $1 million. But no matter how good your performance is, it is almost impossible to save enough money in the last ten to fifteen years of your career.

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This means that from now on, you should take it seriously. If you haven’t started saving money in the company’s 401 (k) retirement benefit plan, start saving now. Go to the Human Resources Department to let you participate in this project, and then read this article.

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Even if you join the 401 (k) retirement benefit plan, you may not have enough money saved. Find a financial expert to sit down and talk, and calculate how much money you need to live after you retire at the ideal time. If you cannot join the 401 (k) retirement benefit plan because of your employer, you must save money with the IRA. If you or your spouse has no income, you should also open an IRA for him and save money in it.

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Don’t avoid retirement, and don’t tell me that you love working and will never retire. I don’t believe it. You can still work when you are 102. Even if you live to be 102 years old and really want to work, I can’t imagine how many people still work at this age, let alone their income is totally different from that of their prime years. In short, you can’t help but retire at that time.