No matter where you are in life, there are important steps you can take to help guide you along your journey to—and through—retirement. Knowing what those steps are is an important part of your long-term strategy, and Scottrade offers the guidance, tools and support you need to help you prepare for retirement on your terms.
Click on any of the stages below to learn more about what you might be doing right now to help you stay on track to reach your retirement goals.
Whether you’re working on finishing college, just joining the workforce or thinking about starting a family, it’s a perfect time to start taking control of your financial future.
From budgeting and making sure you spend less than you earn, to taking advantage of company matching programs, there are plenty of things you can do now to start planning for retirement, even if you’re just starting out.
Even though retirement is likely a long way off for you at this point, it’s never too early to start learning the basics of saving and investing for retirement.
By now, you’re probably a little more established in your career. Maybe you’ve been promoted or moved on to a new job. You likely have multiple financial goals at this point, and have given some thought to what you want out of retirement for you and your family.
Learning how to balance saving for retirement with your other financial goals and taking the time to put a plan down on paper are smart ways to help ensure that you’re creating a solid foundation for your financial future.
As you enter your 40s and 50s, you’re likely to be in the highest-earning years of your life. By now you probably have a sense of what you want your retirement to look like. Now that you’re getting closer to retirement, it's time to get specific about your plans.
Considering things like when you’d like to retire, where you plan to live during retirement and how you’d like to spend your time when you retire can help you map out your expenses and develop a budget for living in retirement.
If you’re getting close to retiring, or are recently retired, now is the time to think about how you’re going to generate income from your retirement portfolio. Your focus becomes less about saving and more about managing what you’ve saved. It's also important to have a plan for managing your distributions so that you can help your savings last through retirement.
Even after you’ve retired, staying focused on your goals will help you stay on track as your needs change, the market changes, or other factors influence your plans. Things to consider include your day-to-day spending habits, any plans to gift money to family members or charity and what kind of legacy you want to leave behind.