5 Retirement Planning Steps You Can’t Afford to Ignore

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1. Figure Out How Much Money You’ll Need to Retire

Guessing your retirement number is like packing for a trip without knowing the destination. It never ends well.

Knowing your target gives you a roadmap and keeps you from panicking later.

Here’s what helps you find your number fast:

• Estimate annual expenses, including housing, food, travel, and healthcare.
  
• Multiply by 25 to get a rough idea of how much savings covers your lifestyle.
  
• Add a cushion, because inflation loves to surprise everyone.
  

👉 Here's How You'll Do It: Use a free retirement calculator to see how much you’ll need each year. and work backward from there.

Make It Easy: Try Boldin to instantly calculate your retirement goal and see if you’re on track.

2. Start Saving Earlier Than You Think You Should

Time is your best ally when it comes to retirement.

The earlier you start, the less you’ll need to stress (or sacrifice) later.

Here’s why starting early is pure gold:

• Compound growth, because your money earns money over time.
  
• Smaller contributions, since starting young means less monthly pressure.
  
• Freedom later, to retire when you choose, not when you have to.
  

👉 Here's How You'll Do It: Set up automatic contributions to your retirement account. even $50 a month builds serious momentum.

Make It Easy: Use Boldin to visualize how your early contributions grow over time with compound interest.

3. Use Your 401(k) Match or You’re Leaving Free Money Behind

Not using your company’s 401(k) match is like refusing a free bonus every month.

That’s money meant for your future. You just have to grab it.

Here’s why it matters so much:

• Instant return, since your employer adds to your savings.
  
• Faster growth, as your total balance compounds over time.
  
• Zero effort, because once you set it, it’s automatic wealth-building.
  

👉 Here's How You'll Do It: Contribute at least enough to get your company’s full match. Then raise it as your income grows.

4. Pay Off Debt Before It Follows You Into Retirement

Nothing kills retirement peace faster than unpaid bills.

Debt can eat into your fixed income and steal your sense of freedom.

Here’s why getting rid of it early pays off:

• More breathing room, since your income stays yours.
  
• Less stress, because no one likes juggling payments on a fixed budget.
  
• Lower expenses, freeing up money to enjoy life.
  

👉 Here's How You'll Do It: Use the debt snowball method. Pay off your smallest debts first, then roll those payments into the next one.

Make It Easy: Try Undebt.it to build a personal payoff plan and track progress visually.

5. Don’t Count Only on Social Security to Save You

Social Security is a safety net, not a full paycheck.

Depending solely on it means your retirement lifestyle might shrink fast.

Here’s what to remember:

• It replaces only part of the income, usually around 40%.
  
• Benefits can fluctuate, based on inflation and government policy.
  
• Private savings = control, giving you more flexibility and comfort.
  

👉 Here's How You'll Do It: Treat Social Security as backup. build your main income through savings, investments, and retirement accounts.

Make It Easy: Get a small filing folder to keep Social Security letters, statements, and records in one spot.

📌 SAVE IT FOR LATER! 📌