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McCurrie McCurrie
& McCurrie, L.L.C.

680 Kearny Avenue
Kearny, NJ 07032-3010
Phone: (201) 467-4180
Fax: (201) 997-9567
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Tips for Planning a Safer Retirement

Finance writer Ryan Guina recently covered the top 10 tips for (saving) your retirement savings in U.S. News & World Report yesterday. Estate planning is legal, on one hand, and best accomplished with the help of an experienced attorney. However, estate planning is also what you do every day, when you make the decision to buy something, pay off debt or put money in the bank.

There are some things that you can do, right now, to ensure that you have an estate to plan with and a retirement that you can enjoy.

  1. Get out of debt. If you have credit cards, pay them off. If you owe money on a vehicle, pay it off. As Guina points out, paying interest ties up valuable resources and should be taken care of before, almost, everything else.
  2. Ruina also advices people to earn more than they spend, rather than spend less than they earn. While this might be a hard sell in the current economy, it does make the point that discovering new revenue streams is a valuable endeavor and can allow you to put more money towards retirement.
  3. If you do find that you have some extra money after all weekly or monthly expenses have been paid, save some of it. Rather than spending it on something you do not need, save it for a day when you need just a little extra. Car repairs, hospital visits and other costly situations often arise without warning. By providing yourself with a buffer, you can more smoothly ease through these expenses.
  4. Invest a reasonable amount of your income. Many employers have 401k retirement saving plans and anyone can set up an individual retirement fund. There are a lot of different plans to consider in both cases and it is usually best to consult with an investment specialist before making any major decisions.
  5. Invest in medical, life, car and home insurance. Most already have all of these, but if you do not, insuring yourself and your assets is one of the best ways to ensure your wellbeing following retirement.

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