Retirement is something few people put much thought or effort into. They either put it out of their minds, or they rely heavily on their employers to take care of it. This can mean a harsh wake up call once they reach 65, so read on to learn some helpful tips on retirement.

You need to figure out what exactly you think your retirement will cost you. You will need 75 percent of your current income to live comfortably. Workers that have lower incomes should figure they need to require around 90 percent.

Retirement will free up a lot of your time. Use it to get in shape! It is very important to keep your muscles, bones and heart strong as you grow older. Work out daily and have fun!

While you know you should save quite a bit of money to retire with, you also should be sure that you consider the kinds of investments that need to be made. Keep a diverse portfolio, making sure that not all of your eggs are in the same basket. That minimizes your risk.

Think about waiting for some time to take full advantage of the Social Security income you get. It will make your monthly allowance even more. This is most easily accomplished when you’re still actively working or if you can collect from various retirement sources.

When you are about to retire, downsize. You can use this money in the future. You may be saving, but anything can happen between now and retirement time, and you need as much money as possible! Medical expenses or a number of other unexpected bills could really cramp your retirement style if you’re not prepared for them.

Set goals for the short term and the long term. Goals are essential when anyone needs to save money. If you are aware of the amount of money needed, then you know what your goal should be. By just doing a bit of math, you can figure out how much you need to save every week and every month.

To figure out how much money you require, consider that you will likely want to live similarly to your current situation. Since you will not be working any longer, it is safe to say you will need around 80 percent of your current income. Make certain that you do not dive into your savings too quickly once you retire.

Plan for your retirement early and often. How can you enjoy a comfortable retirement? You have taken a good step by checking out this article, so use the advice you learned here to make a solid retirement plan.