Has your retirement savings plan been formulated in 2020? ｜How to make a good plan to really help us to retire successfully?

"The plan for a year lies in spring." At the beginning of the new year 2020, it isThe season of rapid growth in gym membership sales-most people start planning for their healthy exercise goals at the beginning of the new year.Similarly, at the beginning of each year, it is precisely what we have drawn up asretirementSaving goals, setRetirement planningThe best time of day.

According to a recent survey by Fidelity Investments, 67% of Americans are ready to consider their financial plans in the New Year.More than half of the surveyed groups hope that in 2020, they can save more money for various financial goals such as retirement.

Although there is a plan, execution is also a critical step.Fidelity Investments pointed out that in the past 2019, half of the people who made plans failed to strictly follow the plan.And the research pointed out thatThe number of people exercising in the gym will also fall off a cliff after January each year.

In order to increase the probability of financial success in accordance with the plan, behavioral economists have formulated three rules about "planning."American Life Insurance GuideIn the next part, we will share the experience of these 3 items that have been demonstrated to be effective and can help us achieve financial success.

1. Determine the annual goal of saving money in January (or birthday)

Academic research shows that both New Year's Day and birthdays are good times to "change".Katherine Milkman, a professor at the Wharton School of the University of Pennsylvania, said that because both of them mark the beginning of the new year, they help us "clean the blackboard (come back)."

Professor Milkman said: "We believe that it was the'me in the past' who failed, but this year I will be different." This kind of thinking has improved our self-confidence and is the key to success.

The researchers invited about 8,600 employees to startSaving for retirementOr increase the amount of money deposited.In the next eight months, the researchers reminded them to save more for retirement on birthdays, Thanksgiving Day, and Valentine’s Day in different groups. The final results showed that they were reminded on their birthdays. The group has saved more money than others.

(>>>Recommended reading: gadgets｜The American Personal Pension Smart Calculator, how much do I need to save every month?）

2. Set clear, realistic goals

When formulating an annual retirement savings plan, people usually deliberately set an overly vague or extreme goal to find a good excuse for subsequent failure, such as "save more money" or "retire at 40."

Egan, the general manager of Betterment, said that if the goals set require us to sacrifice what we like, then we will lose the motivation to stick to it.Once the action of persistence and disdain is lost, failure is inevitable.

The key is to make our goals as specific and realistic as possible.For example, "In the next 5 years, I will gradually increase the proportion of personal income deposited in my retirement account from 2% to 5% at a rate of 15% per year."

3. Develop a detailed execution plan

The next step is to break down our goal into smaller steps and solve them one at a time.

Eggan said, "No one will try to participate in a marathon on the first day of their athletic career." "We need a concrete plan to reach our goal."

Is your 2020 savings plan ready?

Saving money for the goal of retirement is a long-term and enduring process.The brokers of the American Life Insurance Guide Network community have also encountered some who are about to enter retirement age, but due to the lack of long-term effective planning, they missed the help of the wealth amplifier of "time", which led to the inability to "safe" retire, or retirement costs A case that is too expensive.

From the perspective of scientific planning, the long-term goal of "retirement" is broken down into annual sub-goals, and broken down into smaller retirement savings tasks that need to be achieved every month.

Every small goal achieved is a huge victory for us. From the spiritual level, we feel the joy of success and progress being achieved.inAmerican Life InsuranceIn the next article on Guide.com, we will invite columnists to share 6 more specific methods that can help each of us make plans.

2020 has arrived, your yearRetirement savings planHas it be done?