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Thinking About Retirement Pays Off at Any Age
Posted By Deb Silverberg On June 6, 2012 @ 9:06 pm In Money & Savings,Work | Comments Disabled
When you hear the “R” word, what comes to mind? Your perspective on retirement planning depends on a lot of things, including your age bracket.
If you’re 50+, you might say: “What retirement? My IRA has taken a huge hit, and now I’ll have to work way past 65.” Or, “I’m so behind I don’t even know where to start . I hope Social Security  is there when I need it, but I’m worried.”
A 40-something might say: “Retirement? We’re down to one income after the layoff and worried about how we’ll pay our family’s bills as our savings dwindle. And now I’m hearing that 401(k) fees  are taking a big chunk out of what we’re putting in.”
A 30-something might say: “Retirement? I’m paying back student loans and trying to save for a home down payment , and it’s taking forever with my rent and car expenses. Maybe I’ll move in with my parents for a while.” (Parents shudder.)
A 20-something might say: “Retirement? I can’t believe they still take Social Security  out of my paycheck. There’s no way any of that will come back to me. And why should I bother putting money aside now? Retirement is such a long way off  – does it really matter?” (It does.)
This month you’ll see a lot from AARP about this important issue – from myths and challenges, to making the most of your 401(k)  and tools to know what you’re paying in fees , to the future of Social Security  (hint: input wanted ) and when to start claiming, to what an ideal retirement means for you. There’s even a free webinar  on that topic on Tuesday, June 12.
Would winning $50,000 for your nest egg make you want to learn more? If you’re 45 or older, enter the AARP $50,000 Retirement Trivia Challenge  (daily winners too).
Need to work longer than you thought? Join the club. Check out job-hunting resources  if you’re dealing with a mid-life layoff or want to change careers, and learn about employers who value 50+ workers .
Here’s to starting where you  are when it comes to retirement planning , regardless of age. Above all, don’t beat yourself up or think, “If only I had…” Nothing good will come of that. Instead, pay it forward. Encourage the 20- and 30-somethings in your life to learn what’s in it for them  by thinking about retirement sooner rather than later. They may even thank you…someday.
If you’re on Twitter, follow @AARPMoney  for money, work and retirement resources, news and information.
Article printed from AARP: http://blog.aarp.org
URL to article: http://blog.aarp.org/2012/06/06/thinking-about-retirement-pays-off-at-any-age/
URLs in this post:
 Image: http://abcnews.go.com/WNT/video/401k-hidden-fees-16462619
 where to start: http://www.aarp.org/money/investing/info-05-2012/catch-up-on-retirement-savings.html
 Social Security: http://www.aarp.org/politics-society/advocacy/info-04-2012/youve-earned-a-say.html
 401(k) fees: http://blogs.wsj.com/totalreturn/2012/06/05/the-raging-debate-over-401k-fees/
 down payment: http://www.lifetuner.org/articles/3-places-you-can-still-get-cash-to-buy-a-home
 Social Security: http://aarp.us/toqMXk
 long way off: http://www.getrichslowly.org/blog/2008/04/02/the-extraordinary-power-of-compound-interest/
 early: http://www.lifetuner.org/articles/why-starting-early-with-retirement-savings-matters
 401(k): http://www.aarp.org/work/retirement-planning/news-06-2011/avoid-sabotaging-401k.html
 fees: http://brightscope.aarp.org/personal-401k-fee-report/aarp/
 Social Security: http://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html
 input wanted: https://action.aarp.org/site/SPageNavigator/yeas_socialsecurity_medicare.html
 free webinar: http://www.aarp.org/work/work-webinars.html
 $50,000 Retirement Trivia Challenge: http://aarp.promo.eprize.com/retirementgame/
 job-hunting resources: http://www.aarp.org/work/job-hunting/info-05-2008/job_tips_for_50plus_workers.html
 value 50+ workers: http://www.aarp.org/work/on-the-job/info-09-2011/aarp-best-employers-winners-2011.html
 @AARPMoney: https://twitter.com/#!/AARPMoney
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