Preparing for your retirement now will pay off in the future

One of the most common questions asked of financial professionals is, “When should I start my retirement fund?” The answer is easy:  Now. It’s never too early to think about your financial security, and there’s no better time to start investing for your golden years. Even small steps today can make a big difference decades down the road.

Consider retirement an asset

While money in the bank and owning a house are easy ways to gauge your financial worth, funds in an individual retirement account (IRA) or other long-term investment might seem too remote to count. But they do. Your future needs are almost as important as your current ones, so treat retirement like any other asset you’re building.

Take advantage of all your options

A retirement account isn’t just a typical account. There are many ways to contribute, and you should utilize as many as possible. If your company offers a 401(k) or other employer sponsored retirement plan, sign up. If not, consider opening an IRA. Profit sharing or stock options? Even better. Find a sound investment with a reliable return for accumulated funds, so you can put your money to work for you.

Whole life insurance

Unlike term life insurance, which provides coverage for a specified amount of time, whole life insurance lasts for the policyholder’s lifetime, and can potentially earn dividends over time—and possibly a cash value you can access if needed. Premiums tend to be lower the younger you are; lock in a good rate while you can.

A financial professional can help you determine an effective approach to asset building and retirement planning based on your age, economic status and goals. If you don’t already have one, the companies of OneAmerica Financial^® has financial professionals across the country to give you local, personalized support — contact us today and we’ll help you find a financial professional near you.