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A new MoneyRates.com series offers expert advice on retirement saving

October 18, 2010

| MoneyRates.com Senior Financial Analyst, CFA

Where can you get good financial advice?

In recognition of National Save for Retirement Week, MoneyRates.com has brought you a special collection of writings by top personal finance experts from around the country.

Tracing the cycle of retirement planning

Adults of all ages should be actively involved in some aspect of retirement planning. Retirement planning is a cycle which begins when you first start working, and continues for the rest of your life.

To help address the various stages of the retirement planning cycle, MoneyRates.com has chosen topics which address different steps towards managing your retirement finances throughout your life, such as:

  • Calculating retirement needs, to give yourself an initial, and ongoing, savings target.
  • Saving for retirement in your 20s and 30s, because the sooner you start the faster your nest egg will grow.
  • Asset allocation in 401(k) plans, which is a critical decision employees of medium-to-large employers are likely to face.
  • Special retirement challenges faced by small business owners, because working independently creates additional financial responsibilities.
  • How marriage changes retirement planning, because couples need to look at the process a little differently.
  • Juggling retirement saving with saving for your children's education, because there is generally more than one priority making a claim on your money.
  • Adjusting to the unexpected, since even the best of plans is subject to the whims of the financial markets and changing needs.
  • Playing catch-up, because after more than a decade of weak investment returns, this is the situation many Americans are in today.
  • Managing the trade-off between what you want today and what you'll need tomorrow, because you can benefit financially from delayed gratification.
  • Living off your savings in retirement, because once you've saved the money, you have to make it last.

In short, no matter what stage of retirement planning applies to you, this MoneyRates.com series will have some relevant advice. The need to take action is urgent -- one study suggests that Americans as a whole are facing a retirement funding gap of $6.6 trillion. You don't need to worry about that giant total -- you just have to start building towards your own retirement needs.

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