Planning for retirement really does take a lot of work ahead of time. If you are a single mom a lot more effort is needed to put away enough money to care for yourself. This is especially the case for those who are young and may not end up receiving any money from social security. Counting on the government to care for you during your retirement, may leave you empty handed. Of course you also do not want to be too dependent on your children either.
The first thing that you can do for your retirement is set aside a portion of your paycheck each week into a high interest savings account. Just in case you forget to do this, you can easily have the bank automatically withdraw the money from your check, and deposit it in your savings account. This can be done every paycheck, or you can do it once a month. The point is to put something away each month. Once you have enough money you may want to invest in some CD accounts, or other area where you money can earn you some money.
As a single mom you may not have a lot of money to put away put even a small amount can make a difference. What if you have nothing left after paying your bills each paycheck? Well some single moms have found work that they can do online in the comfort of their own home. There is plenty of work at home jobs that can be done part time in the evenings. Or perhaps you can spend a few hours on the weekend while the kids are still sleeping, and do some transcribing work. This will allow you to earn a few extra dollars a week, which you can save. It also will not take any extra time away from your children. You will have the extra money you need, to save away for retirement, and still have quality time with your children. It may be tiring, and you may need to push yourself a bit more, but it will certainly be worth it in the long run. Try taking a look at your budget to see if you can shave a few dollars here and there. You may be surprised at how much extra money you can save just by cutting back on a few things. These are just a few ideas and suggestions that may prove to be helpful.