financial planning. It will help clarify your
It starts with a dream, the dream of a secure
retirement. Yet like many people you may wonder
retirement goals as well as other financial
how you can achieve that dream when so many other
goals you want to “buy” along the way. It
financial issues have priority. Besides trying to pay for
will show you how to manage your money
daily living expenses, you may need to buy a car, pay
so you can afford today’s needs yet still fund off debts, save for your children’s education, take a tomorrow’s goals. It will help you make
vacation, or buy a home. You may have aging parents
to support. You may be going through a major event
saving for retirement and other goals a
in your life such as starting a new job, getting married
habit. You’ll learn there is no such thing as or divorced, raising children, or coping with a death in starting to save too early or too late — only the family.
not starting at all! You’ll learn how to save
How do you manage all these financial
your money to make it work for you, and
challenges and at the same time try to “buy” a secure
retirement? How do you turn your dreams into reality?
how to protect it so it will be there when
Start by writing down each of your goals in
you need it for retirement. It explains
Worksheet 1–Goals and Priorities in the back of this
how you can take the best advantage of
booklet. You may want to have family members come
retirement plans at work, and what to do if up with ideas. Don’t leave something out at this stage because you don’t think you can afford it. This is your
you’re on your own.
“wish list.”
The worksheets in the back of the
Organize them into goals you want to
booklet can help you begin your savings
accomplish within the next 5 years or less, and goals
fitness plan. Interactive versions of the
that will take longer than 5 years. It’s important to
worksheets are also available online at
separate them because, as you’ll see later, you save for
short-term and long-term goals differently.
www.dol.gov/ebsa.
Next, organize your goals in order of priority.
Yes, retirement is a big purchase.
Make retirement a priority! This needs to
The biggest one you may ever make. Yet
be among your goals regardless of your age. Some goals
you can afford it — with determination,
you may be able to borrow for, such as college, but you
can’t borrow for retirement.
hard work, a sound savings habit, the right
Write down on Worksheet 1 what you need
knowledge, and a well-designed financial
to do to accomplish each goal: When do you want to
plan.
accomplish it, what will it cost (we’ll tell you more
about that later), what money have you set aside
already, and what you are willing to do to reach the
goal.
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YOUR SA