I should say that I had already been working in the real world for quite some time and the thought of dating someone who was still burping the alphabet for show with their frat brothers was less than appealing. Back then I was working in the fashion industry and was far more concerned with designer shoes than IRA's. At 25 in the smallest and most casual ceremony that did not involve a drive through we got married. Today I'm 30 and he's 42.
Despite all of the reassurance I give him, the fact is that 42 is a whole lot closer to 65 than 34 was. And the way time is moving my thoughts of shoe funds have quickly turned into thoughts of retirement funds. Navigating the world of retirement saving can be so daunting that it's easy to just say forget it, let's worry about it next year. However, if you can give yourself a wake up call now rather than waiting a bunch of years trust me, you will feel SO much better and ahead of the game rather than hopelessly behind.
Make IRA contributions painless
For me, the biggest battle was probably educating myself on some of the simple rules and important deadlines for retirement. I learned a lot by reading up on retirement facts at Genworth. Developing a habit of maxing out contributions to IRA plans can be tough at first but soon it feels routine. If dumping several thousand dollars at one time into an account is too tough to bear then divide up the maximum contribution into monthly payments and have them automatically deducted from your checking account.
Plan so you can collect your full Social Security Benefit
Did you know there is a huge difference between the benefits you'll receive based on how old you are when you start collecting Social Security? Make it your goal to avoid having to collect Social Security until you reach the age at which you're eligible for full benefits. It's likely that your benefits will be 30% higher just by waiting a few years. If you continue to wait, your benefits continue to increase slightly each year until about 70 years old.
Believe it or not, there are lots of other helpful tips out there to make planning and saving for retirement far less scary. You can check out some more great tips on preparing for retirement and hey, if you plan well enough you'll have plenty of money left over to treat yourself to more shoes than you might expect.