How to make sure your wealth lasts a lifetime – or more

Starting your retirement savings accounts is just half the battle — sure, it’s a great first step, but a lot more goes into growing and sustaining your wealth than just contributing to a 401(k) or IRA.

Things like taxes and investing fees can quickly eat away at your retirement savings. Plus, how should you change your financial habits once you’re no longer working full-time and have a steady income? How can you set your children up to benefit from your lifetime of hard work?

Here are seven strategies to consider to ensure your wealth lasts a lifetime … or two:

Plan as far ahead as possible.

We’ve all heard it before, but time is your biggest asset when it comes to investing in retirement accounts — thanks to compound interest, the earlier you can start saving for retirement, the better off you’ll be.

continue reading »