Since traditional pensions are rapidly disappearing, American workers increasingly need to take responsibility for their own retirement savings, usually through a 401k, an IRA or a similar tax-preferred investment. Social Security will probably still be around, but for most people Social Security will provide only for bare minimum needs in retirement. Workers with extremely tight incomes may need to rely on Social Security alone, but anyone with money to spare should be stashing some away for retirement. Personal investment is the key to painting a retirement picture that is sunny and colorful, rather than gloomy and dull.
It’s up to you to take action, and there is no time like the present. You’ll feel great to be taking control of your future financial security!
Start Saving or Step it Up a Notch. If you’ve never saved for retirement, even saving a small monthly amount is a tremendous step. If you are already contributing to a retirement plan, then increasing the amount you set aside is the goal for you. Wondering where to start?
As you look ahead to retirement, the issues and decisions you face are very personal. Nevertheless, there are some general issues faced by everyone, depending on their time frame. The steps you may need to take are greatly affected by the length of time before your retirement.
No matter where you are in your retirement planning process, you'll find useful information in ISU Extension's publication series:
Retirement: Secure Your Dreams
'Retirement: Secure Your Dreams' and 'Welcome to Retirement' Curriculum
ISUE educators have prepared an 8-lesson curriculum for retirement planning workshops. Learn more about purchasing access to the Retirement: Secure Your Dreams and Welcome to Retirement curricula and teaching materials.
Related Links
- Medicare Prescription Drug Program
- www.ssa.gov - Social Security Administration
Use benefits planner to figure your retirement benefits, apply for retirement benefits directly on-line or find out just about everything you ever wanted to know about Social Security!
- www.choosetosave.org - Choose to Save Campaign
Financial calculators, "Ballpark Estimate," more tools to help you save for retirement
- www.retirementworld.org - Retirement World
The latest information about retirement issues and trends for public sector employees.
- http://www.shiip.state.ia.us/ - Iowa's Senior Health Insurance Information Program - Information on Long-Term Care Insurance, Medicare Supplement Insurance and other health insurance issues important to older Iowans
- http://www.dol.gov/ebsa/
Employee Benefits Security Administration - A division of the U.S. Dept of Labor designed to educate and assist workers regarding pensions, health plans and other employee benefits.
- www.asec.org - American Savings Education Council
Read about the newest annual Retirement Confidence Survey and try out savings tools
Note: Some publications linked on this site are Adobe Acrobat pdf files. For more information about pdf files or to download a free copy of Adobe Acrobat Reader, please consult the pdf help section.