Clever Girl Finance

CHAPTER 8Investing for Retirement

Living your best life in retirement means planning ahead.

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For most of us, the task of saving for retirement falls entirely on us. Most of us don't have a pension plan, and Social Security (in the United States) is probably not going to provide us with enough money to live anywhere close to a comfortable lifestyle. When it's time to retire, there's no one waiting for us with a mansion on the beach, millions of dollars in the bank, and a bottle of champagne, who's going to say, “Hey, girl! While you were living your best life, I was doing all of this just for you!” Seriously, it doesn't matter how much wishful thinking we do, it's just not going to happen. And so, taking matters into your own hands to save money and invest for retirement is critical.

You may want to retire early to travel more and spend more time with your family. You could do a “partial retirement” where you opt to work part-time or only when you feel like it. Or, you may not be interested in retiring until your later years. Regardless of what retirement scenario you'd prefer, the bottom line is that you are going to need money to live out that ideal and comfortable life in retirement. Personally, I imagine my retirement being fun and stress-free, spending time with my family, traveling at leisure, and living my best life—and I know that “best life” is going to cost me money!

Back when I just graduated from college, I got a short-lived part-time job as a ...