Courtesy of CBSNews.com, here are five retirement tips to kick off 2013:
1/ Boost your health- Without health, saving for retirement becomes irrelevant, so start with the basics. Make an exercise plan for yourself that helps you get cardiovascular (heart) movement, and consider strength training with dumbbells.
2/ Save more money- The best way to save more money is by spending less money. One practical way of spending less is by creating a monthly budget spreadsheet which allows you to see all expenses so you can identify areas where less money can be spent in the future.
3/ Put money into retirement- If your workplace has a 401(K) or RRSP matching program, take advantage of it if you can. It’s a great way to accrue free money. If not, look into your monthly budget to see where you can find the additional funds. If you decide one day to move into an assisted living community or an exotic retirement destination, make sure the money is there.
4/ Get out of debt- Make 2013 the year to become debt-free, and if you are a homeowner with a mortgage, try adding a little more to your regular payments this year.
5/ Think about working longer- Just because you hit 60 years old doesn’t mean you automatically have to retire. If you enjoy the work, think about continuing it, at least part-time.