Retirement Planning: C is for Continuity
One of the keys to getting from point A (your working days) to point B (your retirement days) is continuity. A retirement plan thrives on the steady flow of cash to work its long-term magic. It can never stop.
These days though, a walk down a grocery aisle or a visit to the gas pumps is almost we need to remind us that our dollar is not going as far as it once was. So you might find yourself looking for ways to free up a little extra spending money for the month. You might even find yourself eyeing the 401(k) contribution you make weekly and are seeing that money better spent in the here and now. It is a human reaction to survival.
If you must lower your contribution, limit yourself to the level of your employer’s matching funds or 5%, whichever is higher. This amount will not have an impact on what your take home pay would have been had you stopped participating completely. Keep that money funding your future. One note of caution, try to save more if things improve. You need to pay yourself first and the key is continuity.
A is for Asset Allocation
B is for Balance