Patience on the way to retirement

Be patient while you are determining your retirement plan. You'll have to think very long term when you're trying to figure out the when, where and how. Tips to have the patience needed on the way to retirement:


     - Stay calm. Worry won't do any good and could hurt your health on the way to retirement so that by the time you do get to retire, you might not get to enjoy all your work.

     - Make a plan and stick to it. Small steps are okay and even if you aren't sure if it will work, most experts will tell you that one of the biggest hurdles you'll find on your own retirement journey is not making a plan at all and then waiting too long to do it.

     - Invest in something. Whether you're planning on investing your additional income in a 401, your savings account, stocks, bonds, real estate or other investments your money will grow even if it's slow but sure. Most people aren't experts in the stock market for example but, if you just keep doing it and studying and learning, you'll watch your investments grow in time. Many people recommend not putting all your eggs in one basket so diversify and have a mixed bag of investments. So, don't sweat the small stuff - just stay with your plan and re-evaluate it after months or a year.

     - Be vigilant. Keep your retirement in the back of your mind often. Mistakes will be made - my own: changing jobs instead of sticking it out with a company I didn't enjoy but, could have earned a pension with had I kept vigilant with them. Oh well, can't change it now and the moral is for you to determine if you should be vigilant yourself and stay with who you work for or not. Life lessons are often hard to swallow but, we all have our own.

     - Earn a pension. That takes us to the next tip for patience on the way to retirment - find out what works for you and try really hard to stay with a company that will give you a pension. Most often, after at least five years of continuous work with the same company, you'll be earning a pension for your retirement. If you're like me, you'll have a few companies that you'll get a pension from. Others stay with a company 20-30 years and get a pension. You'll have that to add to your portfolio for retirement. Something to think about.

     - Patience is key. Think years down the road even if you're nearing retirement age. Let your investments sit and grow without withdrawing any funds. It will be worth it in the end at least that's the plan!

     Best wishes as you continue your own journey to retirement and thanks for your comments or questions.