**PRIORITIZE – start to be more agrressive in taking charge of your retirement by fully funding ROTH or traditional IRAs, including catchup funds if you qualify. Or, if you or your spouse own a homebased business, then fund a SEP (Simplified Employee Pension) IRA. Not only will it help you fund retirement tomorrow, but it will give you a significant tax break today!
**PURSUE – look at alternate sources for retirement funding such as HSAs (health savings accounts) that are tax favored, can be rolled over each year & are available at retirement. This would be a supplemental fund for retirement, not a primary. It basically works like this: you buy a high deductible insurance policy (and save tons on insurance), then you put the amount of your deductible into an HSA. So if a family had a $2500 deductible, they can put that amount into this account every year. If they don’t use it on medical related expenses, then it will continue to rollover and grow until retirement. Go to http://www.ehealthinsurance.com/ for more info.
**PROJECT – what will you really need for retirement? Reevaluate & simplify to streamline your retirement needs, downsizing as necessary. By having an accurate estimation of your expectations and adjusting them to meet your projected income, then you can still retire, but maybe just do some things differently. Go to my tool center for a cool calculator that will help estimate what you’ll need at retirement.