Retirement Planning Principles

When I tell people that I am a retirement specialist, they usually say, “Oh, I’m not ready to retire, so I don’t need worry about that yet.” But preparing for retirement starts long before you are ready to retire!

You may think you don’t have the time or money to prepare for retirement. It doesn’t have to be complicated. By focusing on five basic principles, you can start working toward your retirement goals now, even with limited resources: 

  1. Have retirement goals 
    • Determine how much you will need to accumulate to maintain your current lifestyle after retirement
  2. Participate in the LCMC 403(b) Retirement Plan 
    • Start as soon as possible - the more time you have until you retire, the more time your money has to grow
  3. Make contributions to the plan 
    • Don’t just rely on the church’s contributions, contribute pre-tax dollars via payroll reduction
    • Start small and increase your contribution each year
  4. Create an investment strategy 
    • Invest in a target date fund or use the asset allocation tool on the participant website to determine your investment strategy 
  5. Monitor your retirement account. 
    • Re-evaluate your retirement goals as life events change 

For more information about the plan go to at

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