Over the next few days I will lay out ten fundamental ideas or rules that will serve readers well as they prepare for retirement. I know many of you are already well into retirement and have gone through this process while others are just beginning their investment journey. For the veterans, you may pick up a few ideas and have others reinforced. If you have words of wisdom for other readers, post them in the comments section. I’ll end this series of posts with an analysis of a possible retirement portfolio. Keep in mind – there is no one right portfolio for everyone. Use these ideas as guidelines for retirement preparation.
No one familiar with this blog will be surprised by Rule 1. Obey The Golden Rule of Investing – “Save as much as you can as early as you can.” Stay disciplined in your saving play. Set aside a specific amount each month and pay yourself first. I think the ideal is to have money withdrawn from the paycheck so the employee never sees the money. It just “vanishes” into a retirement savings account to be invested. How it might be invested will come in a later post.
Scattered throughout this blog are words to encourage savings. Here are a few links or corollaries to Rule 1.