Part of yielding wealth is having a financial plan. Creating a financial plan should also include retirement planning. In fact, this is one of the most important parts.
The three-legged stool
Retirement funding is often referred to as the three-legged stool. The three legs are as follows:

The government, which helps out through Social Security
Company pension plans, which are becoming scarce
Your own personal financial health and savings

As you can see, two of the three legs listed above are becoming rapidly shorter. Although company pension plans are being widely replaced by such things as IRAs and 401(k)s. This just means that the stool is …read more

One of the best things you can do for your financial future is to have a plan. A financial plan is more than a budget. It is a comprehensive look at what you have, and what you want to have. And, more importantly, it maps out how to get there.
When you create a financial plan, you don’t have to go to a professional (although for some people this is the best option). You can do it yourself. The idea is to take an honest look at your finances, and define your goals. Then you need to realistically decide what needs …read more