Boulder City Magazine is a monthly publication full of information about Boulder City and Southern Nevada. Boulder City Magazine features the Boulder City Home Guide, a real estate guide to Boulder City and Southern Nevada.




Money Matters
by Wendell Whitman
Edward Jones

How To "Hit" Your Retirement Savings Target
What do you want to do when you retire?  Travel around the world?  Volunteer?  Open a small business?  Your choices are extensive, but they all have one thing in common – they probably won’t happen unless you plan for them. 
And the biggest thing you’ll have to plan for is how much money you’ll have available to you.  But just about 4 in 10 workers have actually calculated how much they’ll need to save for retirement, according to the Employee Benefit Research Institute’s 2004 Retirement Confidence Survey. 

Don’t be one of those people who haven’t done the math.  Try to determine about how much you’ll need for the retirement lifestyle you’ve envisioned.  Then, establish an investment strategy that can help you hit your target. 

Establishing a solid retirement plan will take some work.  You efforts can pay off, however, in the form of a happy, fulfilling retirement.  
 
ASSESSING FINANCIAL GOALS STILL IMPORTANT AFTER RETIREMENT 

You save and invest to create a comfortable lifestyle in retirement.  Once you’re retired, though, you still need to assess your financial goals. 

For starters, take stock of your income from your investments, Social Security, pensions and retirement plans.  Once you know how much money you have coming in, you’ll know how much you can afford to withdraw. 

You also may want to preserve your tax-deferred accounts – such as IRAs and 401(k) – as long as possible.  Try to withdraw as little as you can from these vehicles, especially during your early retirement years. 

Finally don’t rush into an expensive new lifestyle.  Instead of buying an RV, condo or cottage, rent one.  Later, you can determine if you really want to make the financial commitment. 
By making the right financial and investment moves, you can enjoy your retirement years to the fullest.

Contact Wendell at Edward Jones www.edwardjones.com.



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