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Let me say up front, I am not trying to sell you anything beyond this app. I just want to see you Retire well. If you plan on living to Retirement age, you need this app. Educate yourself on the various ways you can build wealth prior to Retirement that the IRS Recognizes.
Do you have any idea when you should START planning for Retirement? Is now too late? Considering you will work about 45 years, and should plan to live as long as 30 years (well past your life expectancy) because there are odds that you COULD live that long. Want to run out of money after 15 years of retirement? Or, do you want to leave this world with a buck to spare? If it is the latter, when do you think you should start? The answer is right out of school. The sooner you start, the less painful it is, and the more likely you will be successful. If you didn’t start educating yourself right out of school, then start now. Look at the ratio of work time to retirement time. It is 30/45, right. Meaning out of every dollar you earn, you need to save 2/3rds of what you make, if your plan is to save a bunch of money and draw it down monthly when you retire. Thank goodness there are other ways to make your savings grow, so you don’t have to save 2/3rds of what you make. If you don’t understand all the alternatives, how can you make a rational decision? Which plan is best for you? Inflation is your biggest enemy. A dollar from your first jobs first paycheck, is not worth as much after 45 years of working and 30 years of retirement, is it? So your job is to save money, and put it to work earning more than inflation, much more. Look at the IRS Approved Plans, and any ideas you may have to do that, and get started. If you don’t start, you won’t finish. Below are some screenshots from the App: