It’s day six of The Retirement Reality’s 12 Retirement Tips of Christmas. If you missed any of the previous tips, be sure to click here.

Six Geese a Laying – Laying the plans out for your retirement now will help you avoid stress and debt later in life. Educate yourself about how much you need to save in order to maintain your current standard of living. To wait until middle-age to start planning is to wait far too long.  Indeed, workers should begin planning for your retirement in their early 20′s. Younger generations in particular will face many more challenges, including less generous Social Security benefits and the continuing decline of traditional pensions. Start planning for retirement now:  set goals, save up, and be sure to invest in a mix of retirement vehicles, that way your savings are protected in case the stock market takes an inopportune dip.

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