Real Life Retirement™ Services
Saving for retirement, no matter what
- If you're single, be aware of your own investing style and counter risk with caution.
- Start cutting spending before retirement, and see what you can do without.
- Keep making contributions to your IRA, and stick to it even when it isn't easy.
- Divorced and self-employed, Pamela works hard to temper her natural risk-taking tendencies.
- Pamela has cut back on spending, and is saving money.
Pamela is weighing options on when or if to retire, while being more conservative in spending and investing.
"I'm a psychologist in private practice; I had been thinking I would retire at age 62, but with the economy, it could be three more years. Even then, I'm not looking to stop altogether because I love what I do. I have a SEP-IRA, and a retirement account from when I was a teacher. Since becoming self-employed, I've put the maximum amount each year in my SEP-IRA. Even in years when it was rough, I found a way. I stick to that no matter what."
A new perspective on money informs her spending decisions—and helps her save.
"I'm trying to balance my tendency to take risks with being more conservative. Before the downturn, the goal was, "What can I do to earn?" Now it's, "What can I do to not lose?" I have cut back on my spending. I only shop sales now. And if I don't like what I buy I return it; I couldn't be bothered before. I've been able to save quite a bit."
Take the Next Step.
Let's talk about the retirement you want.
Call 877-673-7970 for your complimentary retirement consultation.
- Use our retirement calculator to see where you stand today.
We thank Pamela for sharing what worked for her. Her words have been edited. The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. Examples provided are for illustrative purposes only and not intended to be predictive of future results.
The types of financial transactions mentioned may not be suitable for everyone. Each investor needs to review a transaction for his or her own particular situation. Data contained here is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed.
All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Examples provided,
including statistical simulations, are provided for illustrative purposes only and are not intended to imply future results you should expect to see. Past performance is no guarantee of future results.