Many of us are making plans for our retirement. This involves, among other things, planning your investments to allow for a comfortable retirement. To do this planning effectively, you’ll want to ensure that you have accomplished the following steps so as to enhance retirement income.

1.     Look again at your existing retirement plan.

This assumes that you completed a financial plan for your retirement. In order to do this, you will need to make an assessment as to the monthly income that you would like to receive during your retirement and see if this amount is achievable for you. Maybe you will need to devise a strategy to boost that income.

2.  Complete your plans for withdrawal of your funds.

‣      Once you’ve assessed the monthly income that you will need during your retirement, decide on a withdrawal amount that can be managed within your retirement budget.

3.  Add as much as do comfortably to your 401k plan.

‣      If you are not yet retired put in as much as you can to your employer’s 401k plan. This makes sure that you get the greatest returns when you do retire.

4.  Find a reliable and trustworthy financial adviser.

‣      Doing this could easily save you thousands of dollars. Many people find it better to go to a financial adviser who has been recommended by a friend or family member. Usually if they have had a positive experience, you can expect the same result.

5.  Another good strategy is to invest in retirement income funds.

‣     You will find that by doing this you will have one of the fastest ways to broaden your portfolio and achieve an improved incoming cash flow on a monthly basis.

6. The one that many people ignore – invest in their health.

‣     It probably won’t come as a surprise that many retirees find health costs are one of their largest expenses. So to prepare for retirement successfully you must visit your doctor and follow healthy eating and workout habits to make sure that your body stays healthy.

7. Last but certainly not least you need to take action!

‣      Today you need to complete one step. This will help to ensure that you move in the right direction for you.

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