First Bank of the Lake: 3 Key Reasons to Start Saving for Retirement Now

It can be very easy to keep pushing off saving for retirement, but the sooner you start saving the better! The earlier you start, the more money you can have when you are ready to retire. There are tons of reasons to start saving for retirement now and our bank at the Lake of the Ozarks is here to highlight a few key reasons.

3 Key Reasons to Start Saving for Retirement Now

Reason # 1
Save yourself from having to work forever.
While you may love your job and that's great, it is very unlikely that you are going to be able to work forever. What if you end up having a medical condition that prevents you from working as much in your old age? What if you are simply tired of working and ready to live a life of relaxation? Having a retirement plan in place can help make that happen. It can be nice to have a reliable income to live off of when you are too old to work.

"Retirement, a time to enjoy all the things you never had time to do when you worked." - Catherine Pulsifer

Reason # 2
Have the same lifestyle in retirement that you do now.
You are probably used to living a certain lifestyle while you are working and having a steady, regular income coming in. By saving for retirement now, you are contributing to funds that can help you have that same lifestyle when you retire.

Reason # 3
The sooner you start saving, the better chance you have of reaching your retirement goal.
If you are trying to save x amount of dollars for your retirement by age 65, wouldn't you want all the time you can get to contribute to that amount? Even if you don't feel you can contribute a lot of money, just putting whatever you can toward your retirement can be beneficial. Every little bit helps.

Looking to Start Saving for Retirement Now?

We here at First Bank of the Lake hope you found these reasons enlightening. If you are ready to start saving for retirement now, stop by and visit with some of our friendly banking staff members. We offer a few different Individual Retirement Account (IRA) options that may be perfect for you and your retirement goals. Our IRA products include Traditional IRAs, Roth IRAs, SEP IRAs and SIMPLE IRAs. Our staff members can explain what each of these products are and what they can do for you. We can help you determine what might work best for your situation. Our bank in Osage Beach can be reached at 573-348-2265 or you may stop in to visit with us in person at 4558 Osage Beach Parkway, Suite 100. We are happy to help you reach your retirement goals.

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