I was thinking that the sooner I plan, I know that I will be getting a good future for my family. But, I want to consider many things about savings , insurance and plans that will help me when I retire in the near future. When is the right time to plan for retirement? What are the things to consider in getting a plan? Do you think it is a good decision to have it?
If you have money getting expert help is the best decision. Some employee's offer financial experts as part of their benefits. Always use the experts available to you but make your own finial decision.
For the financially disadvantaged, some things I learned
Earlier is better.
More you can save is better.
401 K's are great investments.
Always use the moderate earnings selection. Secure will actually lose money do to inflation and tax increase and growth while has potential for high earnings but falls rapidly during crisis.
Term insurance is the best. If your single you need coverage for your funeral costs, If married and kids you should have enough to pay off any debt and the funeral plus a couple of years of income.
Lock the rate for multiple years.
Social Security provides some money for kids under 18 and surviving spouse
For school open a 529 as early as possible, waiting for the government to fix the problem is not an option.
