RETIREMENT HAS ALWAYS been part of
the American dream: Work long enough
until you have the money to enjoy a work-free life. But too many Americans are reaching the age when they’d like to retire without
the funds to do so.
“Saving for the future is often put on the
back burner for what may seem like more
pressing financial priorities, such as paying for
children’s college education,” says Dan
Greenshields, president of Capital One
ShareBuilder Inc., an online brokerage and
Costco service provider. “More than ever
before, individuals are responsible for ensuring
their own financial security during retirement.”
Greenshields offers these thoughts to
consider in preparing for retirement.
How much will you need to finance your
retirement? Do you plan to move, travel or
take up new hobbies?
Estimate your retirement needs. Identify
potential expenses, and calculate the
amount you might receive from each
source of retirement income, such as Social
Security, pensions, personal investments
and employment earnings.
Invest early for retirement and contribute
as much as possible to employer-spon-sored retirement plans and IRAs. It’s also
smart to automatically transfer a regular
contribution from your paycheck to a
Make planning a family affair by scheduling times to discuss your financial future
with your partner or family members.
Consider working with a qualified finan-
cial professional to help ensure your retire-
ment plan is on target.
It is never too early or too late to get started.
Put your money to work
Money in savings is great, but savings
accounts tend to earn you little on your
investment. Consider trading stocks and
bonds for a potentially bigger gain, albeit with
no guarantees. These are not FDIC insured.
Capital One ShareBuilder can help Costco
members with this strategy. With
ShareBuilder’s simple-to-use website, there’s
no wasting time talking to a broker. Tools are
available to help you research and find stocks
that interest you. Trades are $5.95, a dollar off
ShareBuilder’s usual price. Low-priced securities, options and mutual funds may be extra.
Get started with no minimums. — Steve Fisher
Taking charge of
For more information on ShareBuilder, go
to Costco.com, click on “Services,” then
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