How To Retire In Style

Recs

167

It's said that human beings stand out from other species by virtue of our ability to think and plan ahead. While that may be true, most of us also have great trouble thinking about or preparing for the long term in the middle of our daily tasks and toil. Heck, it's difficult enough to plan something just six months ahead, like a summer vacation. How on earth are we supposed to be able to think about something in the distant future -- like retirement?

However, thinking in advance, and acting on those thoughts, are keys to being ready when the future becomes the present. The younger you are, the more distant your retirement -- and the greater your ability to compound your returns over time. That paradox can work to your advantage.

In this collection, we try to answer the important questions:

  • How much will I need for my retirement in order to live comfortably?
  • What are my goals?
  • When should I start?
  • What should I do?
  • How much can I count on from Social Security?
  • What costs might I run into once I've actually retired?

We all need to ask these questions, but with all our short-term preoccupations, we often wait too long to do so. These 13 Retirement Steps, along with a bevy of tools for running the numbers, can help you cut through the haze and see the realities that will make your golden years truly golden -- in fine Foolish fashion. Let's get started!

Questions about your plan? Consider a 30-day free trial to our Rule Your Retirement service, which features a monthly newsletter, solid asset allocation and investing advice, high-powered financial-planning tools, and professionally staffed discussion boards. Give it a complimentary test-drive.

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On June 06, 2009, at 12:39 AM, FOOLTOCROSS wrote:

    I don't have a million to play with, but I give you the thumbs up.

  • Report this Comment On June 11, 2009, at 8:24 PM, LGFFool wrote:

    With the economy and stock market the way it has been, you might think the path to a secure retirement is robbing a bank. :)

    We believe that you cannot depend on only your Social Security and your 401k. Smart investors are using their 401k and steady investments into a Roth or individual IRA. It's the new way to think. The new minimum.

    Want more easy tips and tricks to save more for retirement? www.boostmywealth.wordpress.com.

    Thank you.

  • Report this Comment On July 15, 2009, at 6:46 PM, RichWee wrote:

    Your article is well written. The step by step approach to retirement is great.

    I diversified into stocks, real estates and bonds...but very cautiously. I have to be dragged in. At this phase in my life (I just retired), I need to be extra prudent and not fall into "too good to be true schemes".

    http://richwee.blogspot.com

  • Report this Comment On August 25, 2009, at 1:01 PM, Juliusr wrote:

    Aside from the common financial products that you have at your disposal, here are some tips so that you can budget in retirement while still enjoying everything life has to offer.

    http://www.newretirement.com/Planning101/Four_Steps_To_A_Mor...

Add your comment.

Compare Brokers

TD AMERITRADE
more info
ShareBuilder
more info
Power E*Trade

more info
Scottrade
more info
Fool Disclosure

DocumentId: 813701, ~/Articles/ArticleHandler.aspx, 11/22/2009 4:29:32 PM

The Must-Read Story on Fool.com
An Open Letter to the Federal Reserve

Community: Investing Wiki

Term Of The Hour

Poop and scoop: Poop and scoop is a form of illegal stock manipulation, where a scammer tries to drive down the price of stock through publishing and distributing unsolicited misleading advertising materials so that the scammer can buy the stock at a lower price.

Want to learn more or edit this definition?
Click here to read more!