Consumer Watch: Retirement on a budget

Saving for retirement is possible even on a tight budget (KOKH).

Retirement-- whether it is just around the corner or off in the distance, it's important to keep tabs on your savings.

Here is the thing about retirement, you have to save for it, there is no way around that. It's still possible to do on a tight budget and many of you might even be able to get free retirement advice.

You work to live, or you live to work. Either way, there will come a time where you hit retirement age.

That point is a bad time to look into if you can retire. You should figure out your trajectory well before then.

If you have access to a 401k, you'll likely have access to help answering this question for free.

“If you have a company plan, ask if there is an advisor that you can talk to because those people are paid by the plan to help you make your investment decisions,” Jane Haskin, Oklahoma Society of CPAs board chair

Haskin says some people who are self-employed may not have access to a 401k, but that doesn't mean not saving for retirement. People can also ask retirement planners about an individual retirement account or an IRA.

“I highly recommend that people that are self-employed look into a retirement account. they can self-fund those types of accounts and it is just as beneficial for them to do that,” says Haskin.

If you aren't saving at all, it is important to get into a situation that will allow you to save something.

“The most important thing I can tell you today is get started. that is the best thing, the best advice that I can give you is just get started,” says Haskin.

You may be working and see that you are barely making your bills, retirement savings will get pushed out of you mind. At this point consider looking at your expenses to see what you can cut, and maybe even getting a second job until you are on more solid financial ground.

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