By Matthew Loux, American Military University
In Public Safety
We often plan our budgets and spending, but how many law enforcement personnel actually sit down and plan for retirement? It is imperative to start planning for retirement now. Here are just the few basic questions to ask yourself:
How much money will you need to retire?
How long do you expect to live in retirement?
How much do you need to save each month?
Here are some strategies about how you should start preparing for retirement now.
Start Saving
The first step is simply to start saving. Sit down with your family and talk about your budget. You will need to cover monthly expenses, of course, but you also need to determine your financial goals. These need to include short-term goals, but also your financial goals in retirement. You and your family should always plan together to ensure you are on the same page when it comes to finances.
Full Story: Tips for Planning Your Retirement
