When creating New Year’s resolutions, many people focus on the here and now. However, if you’ve been lax on retirement planning up to this point, there’s no time like the present to commit yourself to safeguarding your future. Here are a few points to keep in mind going into the new year.

What Resolutions Should You Make for Retirement Planning?

1. Get Started on a Budget

Even if you’ve already started saving for retirement, it helps to understand just how much money you’ll need to get by once you stop working. Think about your lifestyle now, including factors like rent or mortgage, utilities, groceries, and other costs. Also, consider health care, which is likely to be a factor as you get older. Once you have an idea of how much you’ll need, you can take the proper steps to boost your savings.

2. Consider Your Legacy

You probably want to leave something to your heirs after you’re gone. In this case, retirement planning and estate planning go hand in hand. If you don’t feel as though you’ll have enough money to take care of your family, consider looking for ways to potentially increase savings now. Consult with a knowledgeable financial planner to get started.

3. Think About Retirement Goals

Along with day-to-day considerations, you might also have grander retirement goals in mind. Maybe you’d like to travel the world or purchase beachfront property. These goals require money to achieve them, so begin financial planning now to help ensure you have what you need when retirement finally comes.

It pays to work with a trusted financial planner from Family Financial Partners. Headquartered in Lexington, KY, their team of financial advisors and investment planners has helped numerous clients with meeting their retirement goals since 2005. Call (859) 219-1006 for an initial consultation, or go online to learn how they can help you today. You can also visit feeforplan.com for more information about financial plans tailored to your unique stage of life. Estate planning services provided in conjunction with your licensed legal advisor.