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Retirement Planning for Singles
August 24 , 2012

When you are young and unattached, it is only natural to feel it is too early to save for retirement, yet your retirement plan rests squarely on your own shoulders. The sooner you begin to put money aside for retirement the better; if you delay by even just a few years, you could lose much of the advantage compounding brings.


If you plan to retire in your mid- to late-60s, you should be thinking about preparing a retirement plan that will cover your living expenses for at least 20 years. Carefully designing a savings approach now will ensure you a comfortable retirement. Don't forget that retirement planning is just one element of a comprehensive financial plan. You'll want to balance your retirement planning against other important financial objectives, such as saving, budgeting, insurance, and getting out of debt. So, you have somewhere between 35 and 45 years to plan and save for retirement. Since you have plenty of time, you won't have to stock away very much each month to ensure yourself plenty of money for your retirement years.

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