9 ways to make sure you’re really ready for retirement

Preparing for retirement is such an essential endeavor for anyone. In America, only 50% of people calculate how much money they should save for retirement.

Retirement marks a transcendental moment in a person’s life and a major change that affects critical aspects, both personal and social. Life is no longer organized around work but around free time.

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Start saving, keep saving

The sooner you start, the longer your money will have the chance to grow, so you must make saving for retirement a priority.

Know your retirement needs

Retirement is not cheap. According to experts, you will need between 70% and 90% of your pre-retirement income to keep up with your lifestyle when you retire.

Contribute to your employer’s savings plan

If your employer offers a plan, find out everything about it: How much you would have to contribute to secure the amount you need based on your objectives?

Learn about your pension plan employer

You can request an individual benefit statement to determine how much the benefits are worth.

Consider basic investment principles

A basic rule is not to keep all your eggs in one basket, which means, diversifying your investments to reduce risk and improve return.