Four Ways to Start Your Retirement Planning Right Now
While in college, retirement may seem a long way off. But it will be here before you know it. To maximize the potential options for retirement when it comes, start planning by making informed choices about your college education.
Jobs with benefits.
Consider a career path that will include jobs that offer retirement benefits. Many occupations, like teaching, are affiliated with state-level retirement systems that provide generous support for retirees.
If you expect to work a few decades leading up to retirement, choose a job that you will enjoy and find meaningful. There is little point in earning a degree in a field that you consider boring. Have fun along the way to retirement, and the time will pass quickly.
Some employers match retirement-based investment contributions, like IRA’s and 401K’s. Plan for a career where these companies abound to maximize your retirement portfolio.
Many people continue working part-time after retirement to earn extra income to supplement their pensions and Social Security as well as to keep mentally sharp and physically active. You may want to choose a career field where you can work as desired after retiring. For example, nurses, teachers, and business executives can work a few days a week or offer consulting services.
Depending on your career path, you may be able to retire early with careful planning. Start thinking about retirement now so that you will be able to maximize your benefits and post-retirement potential when the time comes.