Ultimate Retirement Planning Guide for Millennials

Golden piggy bank wearing glasses with copy space
23 Apr 2019

Retirement may seem far away for millennials, but it approaches fast. Here is the ultimate retirement planning guide for millennials.

Calling all twenty- and thirty-somethings! It’s about time you got a wake-up call about your retirement plan!

Yeah, we know it seems like a lifetime away. You’re probably thinking, “I’ll deal with it when I’m old.” Well let me tell you, whippersnapper, that’s the last thing you’ll want to do.

When you’re planning out your retirement, the smartest thing is to start drawing up your retirement planning guide as soon as possible. A lot of stuff goes into a successful retirement, and you’ll want to make sure you have everything you need.

That being said, here are a few steps you need to start taking in order to secure your retirement and be on your way to a guaranteed future beach trip to the Bahamas.

Your Retirement Planning Guide: What You Need to Know

Here’s a short list of what you need to start doing right now. Four decades from now, you’ll definitely be thanking us for the info.

Invest, Invest, Invest!

One of the very first things you need to start doing is investing. In this day and age, it’s easier than ever to invest, so if you aren’t doing it it’s because you either weren’t informed or you’re too lazy.

We’re about to take care of one of those problems for you.

You can invest in a certain piece of personal property, such as a house or highly valued set of decorations that you wouldn’t mind selling. Investing in open land is also something to consider.

If you’re not into holding physical property, there’s the option of investing in stock. Apps like Robinhood and Acorn make buying and trading stock—something once reserved for the elite—a breeze for anyone.

Start Building Your 401(k)

You may have heard of a little thing called a 401(k). This little thing is actually kind of a big deal, and here’s why.

Your 401(k) is a way for you to start storing up money for your retirement years. Most employers offer this to full-time workers, but employers only put the bare minimum from your earnings into the kitty pot.

The rest? Well, that’s up to you to take care of.

If you have a 401(k) already started through your employer, great. Start adding more of your money into it. If you don’t have that luxury, then you can easily start a 401(k) or an equivalent of your own.

Have an Account for Emergencies

Here’s the thing: the money you use for your retirement savings and the money you use for your emergencies are two very different money pots for two very different situations. So why are you acting like they’re the same?

Make sure you create an account for your emergency money that’s completely separated from your retirement saving account and start storing into both.

If you happen to have an emergency come up, you’ll be able to take care of it without simultaneously digging into your retirement funds, so it becomes a win-win overall.

We Can Help You Get Started

Now that we’ve got you started on your retirement planning guide, you’ll want to be able to know what to do next to stay on track. We’d be more than happy to help with that.

Solera is all about helping you grow, protect, and manage your money. Reach out to us and see what we can do for you. We look forward to working together.


Daryl Seaton