Shape Up, or Ship Out

It seems as soon as we start our first day of work, one word immediately enters our mind: retirement! However, according to the Employee Benefit Research Institute, only 22 percent of workers are confident they will have enough money in retirement. Are you one of them?

Be Prepared

Time is money, especially when it concerns your retirement fund. However, no matter what time it is, it is always time to start a retirement fund.

Here are some ways to get your retirement fund back on course if it has been docked for a while.

First, get that emergency fund together! Most recommend having three to six months of income saved up for a rainy day. This way, should something occur (laid off from job, washer or dryer breaks, etc.) you will not have to break in to your retirement fund in order to get the cash you need.

Second, get that debt paid off! The last thing you want to be doing during retirement is paying off debt. You are supposed to enjoy your retirement! Do what you can to get your debt paid off as quickly as possible. Then, take the money that you were using to pay off your debt, and put it in your retirement fund.

Third, take advantage of your employer’s 401K program. You need to (at the least!) put in as much as your employer matches.

Remember, small steps can go a long way in terms of your retirement fund. Take that first step today!