Retirement Planning Tips
Start Right Away and Diversify Investments, Group Advises
Ben Stein National Retirement Planning Coalition hide caption
Planning for retirement is one of those goals that people never seem to find time for, but experts say Baby Boomers have little time to waste. To mark the beginning of National Retirement Planning Week, NPR's Bob Edwards talks to comedian, actor and economist Ben Stein, who is the new spokesman for the National Retirement Planning Coalition.
Following are 10 retirement-planning tips from the coalition's Web site, called Retire on Your Terms.
1. Select a target date for when you want to retire.
2. Calculate how much money you need to accumulate by the time you want to retire.
3. Find out about your Social Security benefits.
4. Maximize your use of tax-advantaged plans such as employer retirement plans, individual retirement accounts and annuities.
5. If your employer doesn't have a pension or retirement plan, ask that one be started.
6. Don't touch your savings.
7. Diversify your assets.
8. Ask questions. Get help. Seek the assistance of a professional financial advisor.
9. Start now, set goals.
10. Do a retirement plan and monitor your progress.