Summary
It is never too late to begin saving for retirement. Any additional savings you can set aside are better than nothing. To illustrate this point, compare three coworkers: Matt, Marcus, and Maria, who save nothing, $100 a month, and $150 a month, respectively, in a payroll savings plan. Assuming a 6% return and ignoring taxes and employer matching for simplicity, at the end of 20 years, Matt will still have nothing; Marcus, $46,204; and Maria, $69,306.

A final word of caution: don’t invest in high-risk investments or, worse yet, investment scams, in a frantic effort to get rich quickly. Examples include speculative stocks, viatical settlement deals, and Internet “pump and dump” scams. Remember, if an investment sounds too good to be true, it probably is. Be skeptical of “guaranteed” investment returns or those that are well above historical averages.

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Worksheets

To print copies of individual worksheets, click on the worksheet in the list below. To print this section including all worksheets, select the "Print this Section" link at the bottom of this page.

Worksheet 1: Savings Resulting from Additional Tax-Deferred Contributions

Worksheet 2: Finding Money to Invest for Retirement

Worksheet 3: Supplemental Income Planning Worksheet

Worksheet 4: Investment Risk and Planning Analysis

Worksheet 5: Tax-Advantaged Investment Analysis

Worksheet 6: Personal Dollar-Cost Averaging Tracking Form

Worksheet 7: Proceeds from the Sale of My House

Worksheet 8: Retirement Relocation Analysis

Worksheet 9: Retirement: Early vs. Later?

Worksheet 10: Post-Retirement Employment Assessment

Worksheet 11: Reverse Mortgage Comparison Worksheet

Worksheet 12: Planning for Retirement Asset Withdrawals

Worksheet 13: Retirement Catch-Up Planning Worksheet

Worksheet 14: Retirement Catch-Up Action Steps