3 Steps to Get Back on Track to Retire, Ep #40 

<p>If you’re on your journey toward retirement, you’re either on track, behind, or ahead of schedule. Do you know where you’re at? Are you only a few years from retirement, but stuck having to work longer than planned? If you feel behind, how do you catch up? Lisa—a listener of the podcast—recently asked what I would recommend for someone who felt like they weren't on track to retire on time. It’s easier to find out now and fill in the gaps than having to delay retirement. So in this episode of Retirement Made Easy, I share how I would handle this situation. If you’re worried you’ve veered off course, don’t miss it!</p> <p> <<<<<<<<<<<<<<<PLAYER CODE GOES HERE>>>>>>>>>>>>>>>></p> <h2>You will want to hear this episode if you are interested in...</h2> <ul> <li>[0:23] Are you on track to retire on time?</li> <li>[4:10] Step #1: Set a projected retirement date</li> <li>[6:10] Step #2: Determine what you need to save</li> <li>[8:28] Step #3: Get a plan in place</li> <li>[11:25] How much do you need to save? </li> <li>[15:21] Do you have competing goals?</li> </ul> <h2>Step #1: Set a projected retirement date</h2> <p>You need to set parameters around “someday.” When do you want to retire? At age 70? Or 72? Or early, at age 60? You need to put a retirement date goal in place that is realistic and achievable.<em> I want you to write it down.</em> Why? Doing this increases your odds of achieving the goal by 1,000%. Once you have a projected retirement date/age, you need to move on to step #2. </p> <h2>Step #2: Determine what you need to save</h2> <p>How much will you need to save to retire? How do you come up with that? Dave Ramsey has a free retirement questionnaire that can give you a ballpark idea of where you need to be. A financial planner can also help you determine how much you’ll need to have saved to afford to retire. That is dictated by the retirement lifestyle that you want. Do you want to maintain the same lifestyle? Or will you spend more in retirement? </p> <h2>Step #3: Get a plan in place</h2> <p>Let’s say