Other ways to save for retirement

[/fusion_text][fusion_text]Let’s do some quick word association. Say the first word that comes to mind.

Retirement savings…

Did you say 401k? It’s hard to hear your response through the blog…so I’ll assume I’m right.

Most people do think of the 401k as the only place they save for retirement. That can make saving 10%-15% for retirement sound really hard. Today I’m here to tell you that other things count towards that number too.

When you end up with a little extra money, do you ever prepay your mortgage? If so, that’s retirement savings. It also builds future flexibility into your financial plan.

Do you put money in an HSA that you don’t use up each year? That’s also retirement savings. In fact, this is a great way to save for healthcare costs in retirement. I’ve covered that in a previous blog.

Do you have student loan debt that you are paying down? That counts too.

Do you ever take extra money and go for a nice vacation? That is not retirement savings, but it could be fun.

There are many ways to save towards a secure retirement. Make sure you’re counting all of it when you put your financial plan together. Don’t have a financial plan? I can help.[/fusion_text][separator style_type=”single” top_margin=”” bottom_margin=”” sep_color=”” icon=”” width=”” class=”” id=””][fusion_text]

Legal Disclaimer: These posts do not constitute an offer or recommendation to buy or sell any securities or instruments or to participate in any particular investment or trading strategy. They are for informational purposes only. CTW gathers its data from sources it considers reliable. However, CTW makes no express or implied warranties regarding the accuracy of this information or any opinions expressed by the author and may update or change them without prior notification.