Retirement planning is an important part of any individual’s financial life. Not only does it require money, but you also need to know your long-term goals. Ask yourself when you’d like to retire and consider how much money you’ll need to maintain your lifestyle.
There are other considerations, such as whether you’ll stop working completely or if you intend to supplement your retirement income with a part-time or freelance job.
The accounts you have during your retirement will also play into how you plan for that key point in your life. You may have regular interest-paying accounts like a savings account or a certificate of deposit (CD). And then there are special retirement accounts. For instance, you may participate in a 401(k) sponsored by your employer, fund your retirement account (IRA) on your own, or both. Learn how to continue funding your IRA after you retire.
Whether you can continue …