Investing In Yourself: The Future

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While investing in yourself in the here and now is crucial, it’s also important to put plans in place to take care of yourself in the future.  It’s October, which is National Retirement Security Month, and now’s the time to look at your plans for retirement.

Many of us don’t feel good about our retirement savings. Maybe you feel like you’re so behind you’ll never catch up. You may not have even started and don’t know how to begin. Perhaps you feel like your other financial concerns are so pressing that you’ll never be able to address your retirement savings. These are all valid concerns. In some cases, the present needs are too great to put significant resources into saving for retirement.

However, just because you’re not able to put 5-10% or more of your paycheck into your retirement doesn’t mean that you can’t take steps towards investing in your future.

Take Small Steps

Consider putting away a small amount from each paycheck into retirement. Even if it’s only 10 or 20 dollars, small amounts will add over time due to the power of compound interest. You may consider using a “round up” app such as Acorns to save your change and invest it in a retirement account.

Split Your Savings

Perhaps you will come across a larger sum of money that you are planning on saving. Consider putting a portion of it towards your savings and a portion of it towards retirement. It is certainly important to have an emergency fund. But, many times you can also invest in your future while building up your savings.

Do What You Can

There may be times when you may be stretched so tightly that you need every dollar. If you need to put your retirement savings on pause to meet your other financial obligations, don’t beat yourself up over it. Just try to get back on the horse as soon as possible. The future you will be so glad that you did!

Leave It Alone & Consult Your Financial Advisor

When times get tough, it can be tempting to dip into retirement to make ends meet. If at all possible, avoid doing this. It is an investment in your future to leave those retirement funds alone and allow them to grow uninterrupted. By not touching your retirement account, you will leverage the power of compound interest to make your savings grow over time. Of course, as with any decision you make regarding your finances, but especially your retirement, be sure to consult with your financial planner before making any decision.

Bonus Recommendation

If you’re not certain if you have room in your budget to allocate funds towards retirement savings, check out our comprehensive financial review. A financial specialist, will review your budget and make recommendations to increase income and decrease expenses to support your financial goals.


This information is intended to be educational and is not tailored to the investment needs of any specific individual. Regardless of your age, and what you may or may not have saved, consult a Financial Advisor to discuss your retirement needs and to establish a retirement plan.

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