To Those Twenty-Somethings Out There: A Few Words On Feathering Your (Retirement) Nest

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To Those Twenty-Somethings Out There: A Few Words On Feathering Your (Retirement) Nest

Millennial

If you are in your twenties, you may think it’s too early to start planning for your retirement. Be assured, it’s never too early.

Following are a few tips to consider in planning to feather your nest and nurture your nest egg.

 1) Calculate your monthly expenditures and your income. This should include medical costs, transportation costs, and installment payments, as well as household bills and credit card bills.

 

2) Consider allocating a portion of the difference between your income and expenses to use for investing. (Note: If you discover there is no money left between your income and expenses, you need to develop a more effective budget.)

 

3) If your place of employment offers a 401(k) plan or another tax-deferred investment plan, take advantage of the opportunity and enroll in it. Make the highest contribution you can.

 

4) Consider an automatic investing plan. One possible option would be dollar cost averaging. You could have a determined amount of money automatically withdrawn from your paycheck and put into your company’s investment plan.

 

5) Build a portfolio. Don’t put all your “eggs” into one “basket.” A financial advisor can help you develop the best blend of investments for your personal needs and for your stage of life.

 

6) Start now. Procrastination will only keep you further away from building up your nest egg for a more secure retirement future. The longer you wait, the more money you will need to invest to make up for lost time. Look to your future now, it will be brighter for it.

 

If you have any questions about saving for retirement or how to set up a portfolio, please don’t hesitate to contact us here at Anson Analytics.  We’d love to serve you.

 

Anson Analytics’ Disclosure Policy can be found at ansonanalytics.com/disclosures/

 

Anson
Anson
Anson Analytics provides financial advisory and consultancy services. We manage financial assets for individuals and provide investment consultation to both individuals and institutions. We also offer consulting services to retirement plans. We research and provide due diligence on private funds for accredited investors including Regulation D funds, private securities, and other derivatives.

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