Many adults in their 20s and 30s living in Greenfield, IN, assume that they don’t have to worry about retirement and estate planning. However, by getting everything in order now, you’ll have a greater chance of achieving your long-term goals. If you aren’t sure where to begin, here are some tips to help.

Start with Employer Benefits

If you’re one of the approximately 131 million full-time workers in the United States, you likely have access to benefits that make retirement and estate planning easier. For example, many employers offer 401(k) retirement plans, pension plans, life insurance, and/or stock options. Additionally, there might be perks like 401(k) matching, life insurance for dependents, or discounted stock purchasing programs.

Take a moment to speak with your manager or HR department about any available benefits, particularly those you aren’t using. That way, you can find out if there’s anything built into your employment that can help you jump-start your retirement and estate planning.

Boost Your Savings

Finding ways to boost your savings is critical for retirement and providing financial support to loved ones after your passing. Fortunately, there are plenty of ways to ensure you can set enough money aside.

Start with Income

Bringing in more income is often an intelligent way to begin, and there are plenty of ways to get started. You could:

Consider which options work best for your needs and schedule. That way, you can get extra money to save.

Reduce Your Costs

Cutting expenses is also a critical part of the equation. Begin by tracking where your money goes each month, allowing you to spot potential issues or money leaks. Then, find opportunities to save, giving you more to set aside.

For example, lower your utility spending by limiting use. Turning off lights when you leave rooms and changing to LED bulbs can help. For heating and cooling costs, you can save by adjusting your thermostat. Set your thermostat 5 degrees lower than you usually would in the winter and raise it 5 degrees from where it’s typically set in the summer, and the difference in your bill may surprise you.

Eliminating any unnecessary entertainment spending, such as streaming services you aren’t using enough to justify, can help, as well as avoiding dining out. You could also get quotes for your home and auto insurance to ensure you get the best deal.

Save the Right Way

You want to use the proper savings approach based on your plans for the money. For short-term goals and your emergency fund, try a high-yield savings account. Consider opening a brokerage account and investing for long-term – but non-retirement-related – goals. For retirement, get an IRA even if you have a 401(k) or pension at work.

Then, make a habit of paying yourself first. That way, you won’t direct the money you could be saving toward frivolous spending.

Speak With a Lawyer

In some cases, estate planning is surprisingly complex. Whether you’re writing a will, need to set up a trust, or merely want to ensure that all of your assets are correctly allocated, it’s a lot to take on.

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