Whether you think you are 15 years away, 10 years away, or just around the corner from retirement, having some type of plan to save money for when the time comes is key to ensuring financial security while living out the rest of your life in peace and relaxation.  By the time most people retire, they have already dedicated 20+ years to hard work, so now is the time to go play your favorite golf courses, travel, and do the things you could never do while you were stuck in that office Monday through Friday for the past couple of decades.  Lets go over a few easy ways that you can start saving up to retire.



Chances are if you have a full time job and have been working for a company for long enough, then you have a 401K set up with them.  This is very important to take advantage of if your employer offers you this.  A 401K is a plan that basically takes money out of your check each week before it is even taxed and puts it into a retirement fund.  Most employers will match the amount you decide to take out each week.  So if you’re taking out $50 a week from your paycheck and your employer is matching you $50 that is $100 a week going into your retirement fund.  Now think about this, $100 a week essentially turns into $4,800 a year.  So if you started your 401K at 30 years old and retire when you’re 60, you already have around $300,000 in your savings from working alone.  This isn’t including the money you will be receiving from the company for the money invested in bonds and mutual funds as well.

401k Save Retirement Life

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“This is the start of my wonderful retirement”Jeanette’s 60th Birthday cake by the-icing-on-the-cake. (Jo), on Flickr.  This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.


Make it a Bill

You not only want to retire, but you want to retire at a decent age where you can still fully function and go out and about to enjoy life.  In addition to taking money out of your check each week for your 401K, try and take out an additional 10 to 15 percent of your check out and stick the money into a savings bond through www.Saveup.com, or invest it in something worthwhile.  Let the money build up for 20 or 30 years and, hopefully by then, you will have also made a good amount of interest off your money and investments.


Lifestyle Habits

By the time you hit your late twenties and early thirties you should already have figured out that you need to have a plan in place to put money aside to retire.  Therefore you are going to need to realize that you can’t be going out partying all the time, or going out for expensive meals five days a week.  Over a long period of time going out for food and drinks can cost an awful lot of money.  Remember next time you go out and spend $8 on a drink that your employer most likely would have matched that costing you to miss out on $16 toward your retirement.


How much money you can really save is up to you.  If you can’t take out $50 dollars every week from your paycheck then try and shoot for $40.  Every little bit of money helps.  Make sure to find out about your company’s 401K opportunities and try to control going out and spending large amount of cash on personal activities.  Remember, when it is time to retire, you want to make sure you are financially set to enjoy the rest of your life in peace.  It is never too early to start saving!


Arnel Ariate is the webmaster of Money Soldiers.

Click Here to Leave a Comment Below 5 comments
Nick | Millionaires Giving Money - February 5, 2014

Having an automatic payment which max’s out the contribution is also a good idea. I had a final salary scheme which I paid into which is doing very nicely. Great post, thanks for sharing.

    Arnel Ariate - February 5, 2014

    Hi, Nick. Setting up an automatic payment is an excellent idea, too.

LifeAnt - February 8, 2014

Its a shame that we make things out to be much harder than they are. Saving for retirement is like exercise. It doesnt much matter what you do, as long as your doing something. The biggest mistake people make, or at least people who would take the time to read this article is panic selling, and being overly concerned with different funds. People ask me which funds I have my 401k with and I am proud to say two index funds, with the lowest management fees. Over 30 years a fund with 0.75% annual expense rate compared to an index at 0.01% is a amount of money that should not be underestimated.

david bergman - February 11, 2014

you can choose the fixed income consisting mainly of Social Security benefits and a pension check, Whatever money you contribute to a 401(k) plan is yours even if you leave your job or either it can be used.

James - March 20, 2014

It’s all about getting a start and learning as much as you can before making any decisions. I’ve been doing research and have found http://www.mutualfundstore.com/planning-and-retirement to be a pretty good resource for me. Maybe it will help others too!


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