When Planning for Retirement, Remove Social Security from Budget

Don't Stop Saving Money for RetirementWith all the warnings floating around about changes to social security and Medicare, it’s important to make sure you are taken care of in your advancing years. This means careful budgeting and
saving money
for yourself today, because there’s no way now to tell what support you may have in the future. The Equifax Finance Blog explores more about how to protect your future in the article, “
How to Retire If Social Security Is Not Available
.”
One way you can help yourself is to take full advantage of any savings perks your employer may offer, like with a 401 (k). Many employers offer programs where you can have money taken directly out of your paycheck and deposited into savings, so you won’t have to worry about the temptation of spending it. Many banks offer similar programs, and you can use this money that you won’t see (and therefore won’t miss) to fund other retirement or emergency fund accounts. You could even use it to save up for a down payment on a Chicago new home!
Another way to protect your future self is to make sure your saved money is working for you instead of just sitting in a savings account or hiding under a mattress.
Investing
can yield great returns, but can also be very costly, so it is important to consult a financial advisor before you start. With diversified accounts and a solid strategy, you can safely secure a solid retirement.
Explore the Equifax Finance Blog for more ways to save money and live better through personal finance.