The 9 S’s of Retirement Success

These tips will boost your chances of achieving a comfortable retirement.


A successful retirement requires action. But many people start saving so late in their career that they effectively eliminate their chances of a comfortable retirement. Here are nine S’s to follow that will help you achieve your retirement goals.

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Start now. You’ve probably heard about the power of compound interest. Starting to save for retirement as early in your career as you can will give your savings the most time to grow. Begin saving now, even if you can only afford to save a small amount. No more excuses.

Save. Nothing else will consistently matter more to your retirement than the amount you are able to save.

Scrutinize advice you receive. Whether it's a hot stock tip or advice about your allocation to stocks and bonds, scrutinize all the advice offered to you. General advice will need to be specifically tailored to your own circumstances. It’s okay to welcome advice, but be careful with everything you read or hear, even when it’s from financial planners.

Study your investing tendencies. Some people are prone to sell at the bottom when everyone else is panicking. When market swings occur, take note of your thoughts and actions. Only then can you develop a plan to move forward.

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Shut off your emotions. When it comes to investing, what doesn't feel right is often the best course of action. It's important to stay logical and let the numbers win out over what your feelings are telling you at that particular moment.

Share your knowledge. Talking with your friends about retirement and savings can often lead to good behavior and results. Your friends may also be able to spot flaws with your logic and point you in the correct direction. Sometimes peer pressure can work in your favor.

Show off your strategy. Once you have an investment strategy, consider sharing what worked for you with others. You may also want to get a second opinion from a financial planner to make sure you will continue to grow what you've already saved.

Sit down regularly to check your progress. Your financial situation will change as time goes on. Perhaps you will get a raise or start a family. These life changes can drastically change your finances. Adjust your retirement plan accordingly.

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Sleep better at night. Saving and investing properly will help you to sleep better at night because you will have a better chance of achieving a comfortable retirement.

David Ning runs MoneyNing, a personal finance site aimed at helping others change their habits for a better financial future. He suggests that everyone to sign up for an online savings account to get more out of our hard earned money.