What Should Your Savings Goals Be?
Financial Planning for Every Decade of Your Life
When you’re young and just starting out, retirement seems so far away. There are more pressing things to spend your money on rather than focusing on your savings goals. Then you find the love of your life, maybe buy a house and start a family. Before you know it, your kids are looking at colleges, and, “suddenly,” retirement seems to have snuck up on you. Hopefully, you have not encountered too many of life’s obstacles and unforeseen expenses that can often derail a good savings plan. Life happens, though.
Perhaps you feel like your nest egg is growing too slowly. That’s okay; time and perseverance will get you where you want to be. Or perhaps you’re on the opposite end, and you’re not sure if you’ve saved enough.
Regardless of where you are in saving for retirement, one of the best ways to save is to set up small savings goals to help you feel that you are making progress along the way. Hitting the small goals can keep you going, especially when finances are tough or when something comes along to derail your plans.