If you’re like most people, you probably want to feel financially secure when it’s time to retire. Read on for 3 ways to manage your money now for a comfortable future.

Savings Accounts

Even if you are decades away from leaving the workforce, you should begin putting money into a retirement savings account such as a 401(k) or an individual retirement account as early in life as possible. Not only are funds in these accounts typically invested in a manner that will help them grow far faster than a traditional savings account, but they also provide significant tax benefits because your money will accumulate tax-free until it is withdrawn. Additionally, many employers that offer 401(k) savings accounts also match employee contributions up to a certain amount, meaning you acquire free money from your company in addition to investment gains.


Annuities provide another way to fund your retirement. With an annuity, you invest money with an insurance company and are then provided with steady income in the future. These payments can take the place of or supplement other income sources such as Social Security or a pension. There are several types of annuities that come with different degrees of growth and risk, from immediate variable annuities to fixed deferred annuities.

Individual Investments

Investments in the stock or bond markets or real estate are also a popular way to build up retirement funds. While there is always risk involved, you can select investments that match your willingness to weather downturns in the economy. In general, the longer you are invested in something the less likely any dips that occur over the years will negatively impact your overall investment.

Saving or investing your money will help you have peace of mind about affording your retirement. Consider your options and take action sooner rather than later.