The celebration of National Save for Retirement week is a timely reminder for all to focus on retirement plans towards a comfortable life in the future. What does this mean for nurses? Like everyone else, planning for eventual retirement which inevitably happens to all of us has to be taken into consideration, even more so when you are thinking of a comfortable retirement lifestyle.

Some important information about retirement includes:

• Maintaining your current lifestyle when you retire means saving around 70-100% of your present income
• You may live for more than 20 years after reaching retirement age
• In the US, less than half of the workers have reached their retirement payment goals
• Social Security will only give up to 40% retirement money for the average worker in the US. Wanting more than that depends on the lifestyle you live now.

This bleak retirement scenario needs crucial steps to ensure your financial security by the time you are ready to take it easy in order to live comfortably. Here are some guidelines that can put your mind at ease to make you financially ready when retirement age rolls in:

Meeting employer’s match
Taking advantage of an employer’s match if it is offered is a smart way of investing in your future.

Bank money in the retirement fund
Other income such as bonuses, windfalls, overtime payments, and raises can be a good way to stash more money in your retirement fund. It does not mean you have to save the whole thing, only allow a certain percentage to it. Saving money can also be done in other ways such as cutting off an overpriced cable subscription for instance. The extra cash can then be deposited to the retirement fund.

Seeking professional help
Expert and professional help towards the retirement fund is one of the best ways to get the needed financial security when the time comes.

The thought of saving money for retirement can oftentimes be overwhelming. All you actually need is careful planning of your finances. Here is how you can do it:

Make a budget
Having a budget gives you an insight into the things you spend money on.

• Write down every expense for a month. Based on that list, make three separate lists such as one for necessities like transportation and housing, another for entertainment, and a third for what you think you need. From the list, you’ll see the things that you can do without
• Plan savings and spending goals to target your long-term plans

Do not try to make bigger tax withholds
You may enjoy your tax refund for who doesn’t? However, Uncle Sam wins a loan that is interest-free every time you get a big refund. A reduction in withholding taxes means extra money in the paycheck. This extra can now be used as additional contributions to an emergency fund or retirement plan.

Autopilot retirement savings
An automatic savings response by adding a certain percentage of your monthly paycheck to a retirement plan in the workplace is an easier way of getting closer to your set goals.

It is never too early or too late to begin retirement savings. The sooner you start, the better your chances of achieving the comfortable life you envision yourself to have upon retirement.

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