After spending years of working to build the generations of your family, everyone wants a carefree retirement. A stress free time to do whatever you want, whenever you want. Most people think that retirement is about having enough money to sit on the deck, play golf, and visit the grandkids. But this won’t work in today’s world.

Here are some Facts about Retirement :

• Fewer than half of Americans have calculated how much they need to save for retirement.
• In 2012, 30 percent of private industry workers with access to a defined contribution plan (such as a 401(k) plan) did not participate.

• The average American spends 20 years in retirement.

Smart Planning of your retirement is very essential. Only if you take certain steps now, you can ensure a perfect retirement in future.

Given below are 5 strategies to Retire Carefree :

1. Understand your retirement needs : No matter how old you are, take some time to really think about an intended retirement date based on where you are at right now. Retirement is expensive. It is important to calculate how much you need to save to now to adequately cover your retirement years. Count up your assets. If you have a pension, it’s probably worth more than that. Then look at your debts. See to it that your mortage is paid off in the right time. Take charge of your financial future. The key to a secure retirement is to plan ahead.

2. Start Saving : Make saving for retirement a priority. A fixed sum alone which you draw from each month is unlikely to work for most people, so you’ll need to invest wisely. If you have no savings and want to get started, go with the easiest option: Open a savings account at a credit union or bank in your community and start putting money into it. And if you are already saving, whether for retirement or another goal, continue doing it. Saving is always a rewarding habit. Make a plan for savings, stick to it and set your goals.

3. Employer retirement plans: If your employer offers a retirement savings plan, such as a 401(k) plan, then your taxes will be lower, your company may kick in more, and automatic deductions make it easy. Over time, compound interest and tax deferrals make a big difference in the amount you will accumulate. If your workplace offers a plan, sign up as soon as you are eligible, and at the very least, contribute to the point of your employer’s match.

4. Look after your health : “You have to plan for catastrophic illness,” says Curt Knotick, CEO of Accurate Solutions Group in Butler, Pa. As too many people have learned, medical and healthcare costs can eat up a huge chunk of your retirement assets — and they are continuing to rise. According to a recent survey, a third of retirees are not confident they will have enough money to cover medical expenses and more than half are unsure of their ability to manage long-term care expenses. You should always give importance for your health. Medical costs can form a large percentage of a retiree’s spending. If a health savings account is offered, you should take it. A safe retirement strategy may include the purchase of long-term care insurance.
5. Trim your Expenses : The lower your expenses are, the easier your retirement will be. Living more frugally than you’ve ever lived before will allow you to plow more money into your retirement savings. If you’re in debt, make whatever sacrifices you must to get out as soon as possible. Try to spend less as possible for a better future.

While these tips are meant to point you in the right direction, you’ll need more information. Talk to your employer, your bank, your union, or a financial adviser. The sooner investors begin investing for their future needs, the greater wealth they could accumulate.