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5 Long-Term Financial Goals and How to Achieve Them

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The timeline of a long-term goal generally isn’t strict, giving you plenty of time to review and adjust your goals as you go. Save for retirement Expected time: 10-35 years Account types: Retirement plans including IRAs, 401(k)s and pensions Planning for retirement is one of the most common long-term financial goals.

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More on the Changing Nature of Retirement

Small Business Labs

There's been a recent flurry of articles on retirement, mostly focusing on older people staying in the workforce longer than prior generations. An examples is Harvard Business Review's When No One Retires. It covers a new retirement community named after and based on the Jimmy Buffet song Margaritaville.

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Using a Financial Planning Checklist Can Help You Meet Your Goals

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Although it might sound tedious, dedicating a little time to checking in on your bank statements, confirming you’re saving enough for retirement and reviewing the financial goals from the beginning of the year can help ensure you are on the right track. It also gives you time to make corrections if needed.

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5 Financial Basics Everyone Should Know

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Saving for retirement Saving for future expenses can be one of the most challenging financial basics to master. No one has a crystal ball to tell them how much they’ll need in retirement. Although it’s a good idea to contribute as much as possible for retirement, don’t despair if you can’t save as much as you’d like right now.

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How to Set and Achieve Financial Goals

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Setting financial goals helps you improve your financial situation, whether you want to pay off debt, buy a home or fund retirement. Saving for retirement or paying off your mortgage, for example, are some of the most common long-term financial goals. Common account types include: 401(k)s are an employer-sponsored retirement plan.

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30 New Year’s Resolution Ideas to Make 2024 Healthier, Happier & More Secure

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Save more for retirement. Increase contributions to retirement accounts such as your 401(k) or IRA. Review your insurance plans. Regularly review and update insurance policies to ensure adequate coverage at the best price. Set savings goals. Set a target savings goal and consistently put money aside each month.

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Almost 7 in 10 Baby Boomers Expect to or are Already Working Past Age 65

Small Business Labs

Regular readers know we cover retirement and the financial lives of baby boomers a lot here at Small Business Labs.  So if more people retire later and work longer than in the past, the more self-employed there will be.   Only 14% plan to retire prior to age 65.