Dependable Retirement Planning Advisors

Kettering Retirement Planning

Kettering retirement planning is a very involved process. Some people don't think this, however. Some people think that simply stowing a little bit of money into an employer sponsored OH retirement planning account is all that they need to do in order to be ready when it is time for them to retire. These people are in for quite a surprise. Just saving money is not enough planning to make sure that you are ready for retirement.

You Need to Budget

Once you are retired, it will be important for you to stick to a budget in order to stretch your Ohio retirement planning funds as far as possible. This is because your Kettering retirement planning account will only payout a certain amount of money every month for you to live off of. It will be for you to decide how you will spend these funds, but you must not spend more than these funds without getting yourself into trouble.

So, if you will need to budget your Kettering funds when you retire doesn't it make sense to budget your money now? The longer you have to practice living on a budget, the better off you will be. Additionally, budgeting can help you to become and live debt free, as well as free up funds to add to your Kettering retirement planning account. The more you can save in your daily life, the more you can put into your OH retirement planning. This means you will retire earlier than you expected, or that you will have more money available to you when you do.

So, to plan a budget you must first make a log of your regular expenses. The best way to do this is to write down all your typical monthly bills. These should include mortgage or rent, utilities, insurance, etc. Do not put Kettering expenses such as groceries or lunch money in just yet. Do factor in credit card bills, or any other loans you are currently making regular payments on.

Once you have these listed, take your monthly Kettering earnings and deduct these items from that amount. What is left over is what you have for things like gas for your car, contributions to your Kettering retirement planning account, groceries and so on. Try to split these up as reasonably and easily as possible. For example, you may have a longer commute than most people, so your gas charges will likely be larger than they would for others.

After you have made these determinations, see if you have money left over. If not, see where you can cut. For example, would it kill you to get rid of cable, probably not. Do you need that much money for food, or could you dine out a little less and get by? Any way you can cut down your regular Kettering living expenses is something you should seriously consider. This will benefit you now, and also help your Kettering retirement planning.

Living Debt Free

Once you have evaluated your Kettering budget and determined how and where to free up some extra income, your next stage in Kettering retirement planning needs to begin. When you retire you do not want to be saddled down with expensive things such as debt. You are working against yourself if you have to end up using your Ohio retirement planning funds to pay down debt you incurred long ago. Take steps now to eliminate that debt so that it is not hanging over your head when you retire.

The best way to do this is to pay off debt one at a time. Choose an account (typically this would be the smallest one) and use the extra funds you set free with your budgeting to pay it down. Once this amount is paid off, roll all of the money that you were putting into paying off the first debt into paying off the second one. Adding this amount to what you are already paying will enable you to pay it off that much quicker. Once you have done this and eliminated all of your debt, you can put that full amount into your Kettering retirement planning account. In this manner, you have learned to live with less and padded your OH retirement planning account with a much larger cushion.

However, there is one additional good thing you can do once you have paid off all your Kettering debt. When it comes to debt, few people even consider their Ohio mortgage as a debt. However, it is so it would not be beneficial to your Kettering retirement planning if we did not consider this. Mortgages can be paid off early. This will save you potentially thousands of dollars. Additionally, not having the added expense of housing will stretch your Kettering retirement planning budget a lot father.

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Retirement Planners In Kettering

Shon P. Anderson M.B.A., CFP, CFA
Shon P. Anderson M.B.A., CFP, CFA
6450 Poe Ave., Suite 510
Dayton, OH 45414

Justin Kattau
Justin Kattau
10100 Innovation Drive
Suite 160
Dayton, OH 45342

Rob Russell
Rob Russell
3174 presidential drive
Beavercreek, OH 45324

Tom Neess
Tom Neess
8118 Corporate Way, Ste. 165
Mason, OH 45040

Maria Santiago
Maria Santiago
Summit Woods I Building
100 East Business Way Suite 360
Cincinnati, OH 45241

 Ryan F. Antepenko AIF®
Ryan F. Antepenko AIF®
7450 Jager Ct
Cincinnati, OH 45230

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