Are you a freelancer who has to, like everything else, make it your job to learn about saving for retirement and the options available to you? Or, do you work for a company with options like a 401K or pension?
Either way, retirement planning and savings is vital!
Getting Started
After graduating from college, I went to work in the world of finance, for a mutual fund company. I knew absolutely nothing about mutual funds, or investments, or retirement. I learned pretty quickly though, that a 401K is a nifty investment vehicle, especially when your company matches a percentage of your investment. I invested in the 401K immediately. I encouraged my roommate and friends to do the same. Now, some thirty years later, we are all happy we did.
Is a Pension or Deferred Comp an Option?
My husband has a pension, which, I feel like is unheard of in this day and age. Not many companies or entities offer pensions to their employees. We are very fortunate to have this retirement vehicle.
He also has the option of investing in a deferred compensation plan. Given, well, life, and all that it brings, he never opted to invest in it. Last week, I finally did a little research, and he is now investing into the 457b deferred compensation plan!
Consider Dollar Cost Averaging
Retirement might not be something you think about when you’re in your twenties or thirties, but it’s so important to consider. Invest early, and invest often! Dollar cost averaging is truly effective. Through Dollar Cost Averaging, you are steadily investing money at regular intervals, when the investment price is low and high, so that in the end, the cost “averages” out.
Savings and CD Laddering
It’s also important to save, to have cash on hand when you need it, or in case of emergencies. Savings accounts don’t pay very much interest. Money markets do pay a little more interest. Or, you could consider something like a CD Ladder, as explained in this video.
If you’re looking for more tips on saving money, click here! This video offers practical ways to save money in day to day life. You might recognize the voice, too.
Let Me Help You!
While I can’t help you with actual retirement planning, I can help you if you’re producing media explaining retirement planning, savings, and other financial products to consumers. Given my background in finance as a writer in the industry before becoming a voiceover actor, I have a very good understanding of personal finance. Contact me and let’s collaborate on your next project! I can even help you write copy for the videos.
