Retirement Plan

The most important component of any New Years resolution is the part where you actually do it. Resolving to do something and then not carrying through only leads to frustration and failure. Why not increase your chances of achieving your long-term retirement planning goals by designing your resolutions better from the start?

Here are three achievable New Years resolutions that can help you meet your retirement planning goals. you’re saving less than $100 a month for retirement or not saving at all, it’s really hard to carry through on a resolution to save $500 a month for retirement this year. Your likely best case is to try it for a few weeks, realize your goal is not attainable, and – like nearly everyone else – give up on your one-month old resolution.

Instead, make your resolution realistic. Commit to raising your savings rate by a meaningful but reasonable level. If the goal is too easy, then it isn’t much of a resolution. But again, if your target is out of reach, you’re likely to throw the baby out with the bathwater, leaving you with less for your retirement.