As developer of the Money Mastery program, Peter Jeppson teaches the skills necessary to control one's personal finances and eliminate debt. Peter Jeppson stands out as a retirement planning specialist and has helped numerous individuals save for their later years.
Saving for retirement must be a multi-faceted endeavor. It begins with the creation of a flexible long-term spending plan, which the saver can structure to account for inflation. Savers can estimate inflation using the Consumer Price Index (CPI) inflation calendar, issued by the Bureau of Labor Statistics, though personal records of expenses over the years may provide a more accurate and useful assessment.
By determining the total cost of necessary and desired expenses, one can set appropriate priorities. This may include the selling of one's house in favor of a smaller residence, or the purchase of a long-term care policy that would keep savings safe. A saver's priorities should also include the payment of debts before retirement, as well as the creation of a personal savings fund. If properly structured, this fund can cover emergencies as well as enough indulgences to support emotional well-being before and during retirement.
