Posted on: 11th Aug, 2009 09:02 pm
have read so many articles on retiremnt plan, they all look impresive and informative. But i need to understand one thing that why people say its very easy to plan for it beforehand i.e. I mean to say that how easy it is for a person to plan it during their 1st job and there are so many other liabilities to pay off like the study loan etc
Hi sharon!
Welcome to forums!
It is correct that when you get your first job, you would be having so many other liabilities to pay off. But saving inspite of those liabilities will help you in securing your future. If you are finding it difficult to save your money, you should consult a financial adviser. He will help you in formulating a budget depending upon your financial situation. This will help you in saving money for your future.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
It is correct that when you get your first job, you would be having so many other liabilities to pay off. But saving inspite of those liabilities will help you in securing your future. If you are finding it difficult to save your money, you should consult a financial adviser. He will help you in formulating a budget depending upon your financial situation. This will help you in saving money for your future.
Feel free to ask if you've further queries.
Sussane
This is the best time toplan for good budget.
If this is your first job, then you did nto have all that extra money before you go this job.
So you need to plan first for paying your currnet loans first. That will help you improve your credit score. Also look for lowere your interest rate on the current loasn by refinancing.
Next pay to yoru self. That mena spay maximum towards yoru 401K. One you develop this habit you continue to do so wth otu worring about your future
Start savings towards emergency. That will help you for any emergency situation
In a few years start saving for down pament for your house
So prioritize and plan
If this is your first job, then you did nto have all that extra money before you go this job.
So you need to plan first for paying your currnet loans first. That will help you improve your credit score. Also look for lowere your interest rate on the current loasn by refinancing.
Next pay to yoru self. That mena spay maximum towards yoru 401K. One you develop this habit you continue to do so wth otu worring about your future
Start savings towards emergency. That will help you for any emergency situation
In a few years start saving for down pament for your house
So prioritize and plan
Good suggestion Sunny