To help guide consumers in their retirement planning, the Insured Retirement Institute (IRI) has developed the “Top 10 Ways to Prepare for Retirement,” a list that can be shared with prospects to help create awareness of the need and also a sense of urgency.
Prior to September 2008, for millions of Americans, retirement preparedness was synonymous with saving money through an employer retirement plan, often becoming the anchor point for a worker’s entire retirement savings strategy. However, according to the Center for Retirement Research at Boston College, more than 2.4 million active 401(k) participants were affected by employers suspending their savings match in the wake of the market decline. Today, employer retirement plans still play a key role in retirement preparation, but comprehensive planning must incorporate numerous considerations.
IRI’s “Top 10 Ways to Prepare for Retirement” was released on Tuesday as part of its promotional efforts for National Retirement Planning Week(R), April 12-15. These key tips can help consumers set a roadmap for a secure financial future.
“Planning for retirement can be a daunting task, especially given the recent economic climate,” said IRI President and CEO Cathy Weatherford. “And while by most accounts the financial forecast appears to be improving, millions of Americans have yet to begin preparing for their retirement. Wanting to spend their later years content, secure and financially sound is the goal of anyone thinking about retirement. With some simple steps and strategies, and by reviewing our tips to prepare for retirement, financial freedom can still be achieved.“