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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®








 ARE YOU READY TO RETIRE?

  

Are You Ready to Retire?

Retirement Budgeting

Sources of Retirement Income

Tax-Deferred Savings Vehicles

Estate Planning

Selling Your Business

Getting Your Business Ready for Sale

Working With a Business Broker

Closing-Your-Business Sale

More Resources: Retirement Planning 		  5 Ways to Start Preparing for Retirement

Getting your current financial house in shape is an important first step to saving for retirement.

1. Review your current budget and look for ways to reduce expenses.

2. Inventory your assets and sources of income.

3. Create a long-term savings account and a reserve account for short-term needs.

4. Look for ways to increase your income and funnel that increase into savings.

5. Pay off debts, beginning with high-interest credit cards.

Adapted from "Countdown to Retirement", Richard Westlund, Florida REALTOR®, March 1997

Tools to Help You Get Started

You don't need a financial planner to estimate your basic retirement needs. There are several good computer-based retirement planning software packages that simulate an initial session with a planner, and many of them have companion Web sites. Some good options include:

Portions of this list adapted from "Rich Man, Poor Man," Kathy Yakal, Barrons, March 26, 2001

TIP: The federal Administration on Aging's Web site offers pages of links on all aspects of retirement planning.

Retirement Budgeting >