I’ve often written about the advantages of growing older, but I won’t deny there are disadvantages, too. One of them is that we lose our financial acuity as we age. Unfortunately, unlike memory malfunctions, losing this skill is not easily perceived, according to writer Allan Roth, (“Age-Proof Your Finances, by Allan Roth, AARP Magazine, Feb/March 2014 pg. 56.) Because our financial judgment becomes clouded over time, working with someone we trust is crucial, particularly as we approach retirement and beyond. Of highest importance is to create a plan that is simple so that we or the people we trust can carry it out with ease.
Recently, I hired a financial planner to secure my personal future. Not everyone can afford to do so, but that doesn’t make planning impossible. For those without the funds to hire an expert, there are internet sites designed to help folks do the math. Even a cursory peek into the future has its benefits if only to give you a sense of urgency.
Folks who think they haven’t a penny to spare may find some realistic ways to save at these site, starting with how to maximize your Social Security benefits or manage outside funds like 401(k) investments if you are lucky enough to have them. Below are two websites to help you get started:
Consumer Report: http://www.consumerreports.org/cro/news/2009/04/5-best-web-sites-for-retirement-planning/index.htm
AARP: http://www.aarp.org/work/retirement-planning/retirement_calculator.html
As Roth advises, what’s important to remember is that the future is now.
(Courtesy of www.oldpicture.com)
