Great holiday gift idea from Florida Trend!
Florida Trend
Get FREE Business News Updates


November 28, 2015

Retirement Planning

A Plan for All Seasons

With the demise of pensions, the responsibility of planning for the golden years rests on employees-and it's never too early to start planning.

Noelle H. Lowery | 12/1/2006

Emily Uranga, 28, Orlando

Family: Single. Occupation: Commercial real estate marketing coordinator.
Salary: Mid-$40,000s.
Assets/liabilities: 401(k) and medical insurance through work. Biggest expenses are rent, utilities, medical and auto insurance, a $300-a-month car payment and gas for a 40-mile-a-day commute.

Retirement Planning Advice
Larry Colby, senior vice president/ Florida statewide sales and marketing, Northern Trust, Miami
"Retirement is now becoming more each person's own responsibility. Make sure that you are putting the maximum contribution possible into your 401(k) plan. Saving between 10% and 20% of your pretax income at this age is ideal. Make sure you are active in managing your 401(k). It is best to follow a diversified approach, investing across different asset classes, in order to lower your overall risk. Consider consulting a financial planner who can help you develop a budget and a comprehensive savings plan."

More Advice
Build sound credit history by opening a few accounts and then paying them off.
Put three to six months' worth of expenses in a money market or savings account as a rainy-day fund.
Establish a systematic investment plan, depositing money on a regular, fixed basis

Tags: North Central, Banking & Finance

Digital Access

Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

An overview of the features and articles in this month's issue of Florida Trend.


Florida Business News

Florida Trend Video Pick

Blue Origin launches, lands New Shepard rocket booster
Blue Origin launches, lands New Shepard rocket booster

Blue Origin completed a test flight this week that successfully launched a vehicle to space and landed the rocket booster. 

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Do you think playing daily fantasy sports (and betting) is gambling, or not?

  • Yes, it's gambling
  • No, it's a game of skill

See Results

Ballot Box