Before Retirement

Younger and working years we have time to get our life plans in order.

(20-30) – We are entering the workplace and thinking about our future with regard to both work and family, along with all the expenses.

1) A vocation should be something we like and within our skill level. If mechanically inclined an apprenticeship “Usually free” of cost would be a good idea, as if you have a skill you can usually keep food on the table. You don’t end up with a big school loan to burden you down for many years. Work that has on the job training will bring you value and possibly, going on your own in the future.

(30-40) – We should be building a nest egg to purchase our first home, a starter that we can modify to meet our needs. Setting some funds aside from every paycheck will build and compound over time, and help to accomplish this goal.

(40-50) – Should be planning for your future and retirement when the time comes.

(50-60) – By this time you should have accumulated some assets and should be planning to keep big government out of your pocket. A few things you should check out are:
1) Roth Ira, IRA, 401-K Investments, and what works best for yourself, family and survivors if things turn bad. I will provide information along with Living Trusts and how to reduce exposure to IRS taxation legally in more detail later.