Get ready for retirement

A wise man once said, "The question isn't at what age do I want to retire. It's at what income." Your retirement will arrive sooner than you think. Start planning now to make sure you can enjoy those golden years. Here are a few tips to help get you retirement ready.

First, calculate what you think you may need in retirement income to maintain the standard of living you want. The rule of thumb is somewhere between 70% and 90% of what you earn currently. But you can get a more accurate estimate when you visit the calculators on LGFCU's website. While you're there, you can also use other calculators to figure out your likely social security income, how long your retirement savings might last, and more.

Next, assess how far you are from retirement. And make sure you invest wisely. Consider diversifying your investments to reduce risk and improve return. Your age, goals, and financial circumstances will influence your investment mix. Stay aware of where your investments are and how much you've invested. Financial security and knowledge go hand in hand.

Finally, start saving what you calculated. Make sure you're enrolled in your employer's 401(k) or 457 plan, if one is available. And take advantage of the employer match. In addition, consider saving in a traditional or Roth IRA like the ones offered by Local Government Federal Credit Union.

Remember, you're never too young or too old to save for retirement. Start saving now to make the best of your retirement years. Be sure to visit lgfcu.org for all of your retirement needs.

LGFCU is an equal housing opportunity lender and federally insured by NCUA.