What's your vision of retirement? Freedom to do what you want? Travel? Fishing?

"Retirement" is about having the freedom to control your own life when you get older. It's a time in your life when you shouldn't have to depend on a job to live your life.

Unless you win the lottery or invent the next cool gadget, that vision probably won't happen.

Why? Companies that offer retirement plans for their employees are becoming few and far between. For those that do offer plans, they normally come with less security. To make matters worse, the government's Social Security reserves are rumored to be depleted by 2034*. It's time to face this fact: you are, most likely, going to be solely responsible for your own retirement income.

So Face This Fact

You are, most likely, going to be solely responsible for your own retirement income.

I am part owner of a small business that does not offer a retirement plan option (we're working on that!). By the time I reach retirement age, it will be way past 2034. As a result, I've started working on my own personal retirement plan, and I wanted to share what I've learned.

Good and Bad News

You are, most likely, going to be solely responsible for your own retirement income.

The retirement process seems pretty lengthy and detailed. That's the bad news. The good news? It really isn't that tough. If you make these two things a habit now, and use your brain a bit, you will have a solid retirement plan in place.

First step: Start saving now. Even if it's only pennies or dollars, put away a percentage of your income every month. Made ten dollars today? Save one dollar. Made a hundred? Save ten.

Second step: Don't touch this money for everyday living. And NEVER touch it for impulse buying. Put it in an account that will earn interest. I've given you some resources below on different types of accounts that can help you with this.

Virtually nothing you do in life is more important for your financial independence than following these two simple suggestions.

"Time Travel"

Work through our online, interactive module on retirement, "Time Travel", to decide if what I am saying is true. It shows you in an easy, cool, and interactive way how to manage your retirement and how to prepare for it when you get "there".

Go to the "Time Travel" module in our Solo program.

Think about this: you probably know someone right now who is old enough to retire, but continues to work. It is likely that this person still works because they worry about their finances. Don't let that be you down the road.

Cheers, Will

Source: Social Security Administration - About halfway the "Social Security" section.