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Unfortunately often, it is well into the fourth decade of a person's life that the reality hits - retirement is not only there but it's now visible on the horizon and it's time to do something about it.

The first mistake that people make is in their prediction of what they're going to need once they're not working. Inflation is, of course, unpredictable but high inflation is commonly accompanied by high yields in the stock market which are fed through yields from pension funds so those factors tend to compensate one other.

It's the actual income that's will be needed that is commonly miscalculated. While it's true that daily living expenses such as gas for the commute and dry cleaning bills will likely be reduced, other expenses such as mortgage, taxes and utilities will not.

How can you be sure you will have enough to live comfortably in retirement?

Start by arranging a meeting with your local credit union. Financial specialists can help you develop a savings plan that fits your needs and goals. You will learn about a variety of products and services that are flexible enough to accommodate you whether you are beginning your savings plan at 25 or 45.

What will happen at my retirement planning meeting?

Most importantly, your retirement planner will listen to learn about you and your savings goals. It's a good idea to give them some though and discuss them with a life partner before the meeting. Your planner will also ask you many questions to help clarify your goals and offer the most relevant recommendations. He or she will likely use a software program to help you visualize projected outcomes. Ask questions until you completely understand each plan to make the best choice.

Impending retirement can be worrisome but planning can alleviate some of that worry. Once you start your retirement plan be sure to give an annual check up to monitor your progress and reevaluate your goals. You will likely want to make changes as you age and in response to current market trends.