Financial Focus: Keep working toward lifetime goals | Business
As the years go by, many of your short-term plans may change. But you’ll always need to focus on three lifetime goals: planning for retirement, preparing for the unexpected and creating an estate plan. What steps should you take to meet these goals?
Let’s start with retirement. Throughout your career, you’ll need to put away money for a retirement that could last two or three decades. So, you’ll want to contribute enough to your IRA and 401(k) or similar employer-sponsored retirement plan to provide for your income needs in retirement. And you’ll want to fund these accounts with a reasonable percentage of growth-oriented investments, based on your comfort with risk and how long you have to invest.
But planning for retirement involves more than…