You’ve heard it before. It’s never too early to think about retirement. If you’re a younger worker and think retirement is too far off to think about, think again. We have some basic tips you should begin considering now to plan for your future.

1. Plan for the Essentials
Since social security won’t be sufficient to pay for life’s necessities – look for other options (investing) to help cover essential costs.  Today’s retirees  will tell you their two greatest financial concerns are covering health care costs and running out of money before running out of breath.

2. Control Spending

If you’re living beyond your means before retiring, you are likely to continue in retirement until you don’t have enough to cover your needs. Pay attention to your budget now so that you can be in good shape at retirement.

3. Don’t Procrastinate

Prograstination is one of the biggest enemies of financial success.  Get started saving today and do it on a consistent basis.  Use payroll deductions and programmed bank withdrawals.  Invest whether the market is up or down. Either way, you will be more likely to come out ahead in the long run.

4. Plan for Healthcare Expenses

The Employee Benefit Research Institute estimates that the average couple can expect to spend $261,000 of their own money to achieve a 90% certainty of meeting their health care needs.  In addition to Medicare, having a supplemental policy and long-term care might be a good idea.  Insurance may seem expensive, but not having it could be more expensive.

If you haven’t started thinking about retirement, now is the time to begin.  A little planning and attention now will help you provide a secure future for yourself and your loved ones.