Steps to reach a retirement goal

Jan 31, 2012

People should take steps for their retirement goals.

Those looking to save for retirement can easily get overwhelmed by the amount of saving and planning that needs to be done for post-work life. Investment expert Scott Holsopple writes on U.S. News and World Report's Money blog that setting goals is a great way to go for retirement planning, and he added that life insurance is a great way to leave money for a family after retirement.

"Long-term care insurance could save you megabucks during retirement," he said. "Leave a legacy with life insurance rather than your retirement savings. That will allow you use your retirement savings to fulfill your goals without feeling guilty about your heirs," he added.

Holsopple also said that adjustments, regular reviews, additional savings and investments are also keys to planning for a great retirement.

In another U.S. News and World Report piece, personal finance blogger Mike Patterson writes that people using life insurance to save for retirement can sometimes allow the cash value to grow and that cash value can sometimes be borrow against if need be.

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