Invest early for retirement










When it comes to pursuing a better retirement plan that helps you get the most out of what you’ve worked so hard to accomplish, here are a few tips to follow to help you seek success:

1. Start early.
The earlier you start saving for your retirement the more potential retirement income you can plan on. Many successful 401(k) investors stayed with the plan and started investing as soon as they were eligible, and didn’t touch the money once they had invested it.

2. Don’t lose perspective with the stock market.
When you start saving for a plan, most people have many years before they retire. This means you are going to experience the fluctuations of the stock market for a very long time. The trick (easier said than done) is not to panic. Even though stocks are volatile, they have the potential for growth. So when the market goes down, as it inevitably will, it will likely come back up. And when it comes back up, prices might increase and you might profit from that rebound. Of course, past performance is no guarantee of future results.

3. Contribute the maximum amount to your plan.
If you want to see your 401(k) account grow, you have to save and contribute as much to your plan as possible. For 2014, if you are under 50 years old you can contribute a maximum of $17,500. If you are older than 50, you are afforded a little cushion: you can make an additional contribution of as much as $5,500, for a total of up to $23,000. It’s understandable that not everyone can make the maximum contribution to their plan. But anything you do contribute will likely make a difference when you retire.

A realistic and reliable retirement plan can be positioned with good financial planning. Visit Mooney Lyons at or call us at 1-847-382-2600 or visit us at to learn more about what your strategies should be.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. No strategy assures success or protects against loss.