David Ortiz, Retirement Rookie:
Planning for the Retirement You Want
For the first time in 20 years, David Ortiz is a rookie — a retirement rookie, to be exact. And after a career as one of the world’s most celebrated baseball superstars, Big Papi needs to figure out what to do next.
In partnership with John Hancock, Ortiz is asking his adoring fans for suggestions about what he should try, now that he’s no longer playing baseball.
Even though you’re not a major leaguer with the ability to launch a baseball into the upper deck, you deserve a retirement that you can enjoy, too. Taking the time to properly plan for retirement means you can retire your way.
Here are some tips to help you start planning:
- Try to be hands-off. The great thing about setting up a 401K is that it auto-deducts each month. This makes saving a lot easier because you really don’t have to do much to make sure it happens.
- Meet your match. Some employers will match your contributions up to a certain percentage. By contributing enough to get your full employer match, you avoid leaving money on the table.
- Revisit your contributions. As your life changes, you may want to reevaluate how you’re saving. Check out our helpful Contribution Calculator to help determine approximately how much you should be putting aside.
- Playing catch-up is OK. After 50, your annual contribution limit increases, so you can make catch up payments to help you meet your goals.
You don’t have to be a superstar like David Ortiz in order to retire happily. If you plan well for your future, you’ll have the flexibility to do what you want when you retire. And that’s something that’s worth saving for.
Check back to see what Big Papi takes on as the newest #RetirementRookie. His first adventure? A water aerobics class with some new friends. His second adventure? Working as a librarian. Check it out below.