A B M P m e m b e r s e a r n F R E E C E a t w w w. a b m p . c o m / c e b y r e a d i n g M a s s a g e & B o d y w o r k m a g a z i n e 25
KC: I'm not surprised by these responses; sometimes saving for
retirement can be the farthest thing from your mind when you're
focused on paying daily and monthly expenses—and creating that
safety cushion referenced in the last question. But it's important
to start as soon as your budget allows. Most of the therapists
who answered no indicated that they either plan to but haven't
gotten to it yet, or don't know how to get started. It seems like
it would make everything so much simpler if there was only one
option, but—in a good way—you have a lot of choices for how
you want to invest your money. Some options are specifi cally
created for retirement—401(k), Roth IRA, SEP IRA, traditional
IRA—while others are more general investing tools (bonds,
mutual funds, stocks, etc.). Each individual needs to fi nd the
unique investing solution that works best for their situation.
I'll leave the detailed explanations of investing and retirement
options to the pros. To that end, I encourage you to hire a fi nancial
planner to help guide you through your options. To do your
own research, I recommend you start by looking at the fi nance
and retirement section of a bookstore (physical or virtual) to see
which titles catch your eye and resonate with you. If you're feeling
intimidated, get a friend on board and work through the book or
resources together.
Les Sweeney, BCTMB, is ABMP's president. Contact him at les@abmp.
com and read his occasional blog posts on www.abmp.com. Kristin Coverly,
LMT, kristin@abmp.com, is the manager of professional education at ABMP and
creates resources and teaches workshops for therapists across the country.
Both are massage therapists with business degrees who care about you and
your practice.
com and read his occasional blog posts on www.abmp.com. Kristin Coverly,
LMT, kristin@abmp.com, is the manager of professional education at ABMP and
creates resources and teaches workshops for therapists across the country.
Both are massage therapists with business degrees who care about you and
Retirement Planning
Here are some online resources to get you started:
• A ARP Retirement Calculator: www.aarp.org/work/retirement-planning/retirement_calculator.html#/introduction
• Investing 101: www.investopedia.com/university/beginner
• Retirement Investing 101: www.thesimpledollar.com/retirement-investing-101-the-basics-of-an-ira
• Investing podcasts: www.thecollegeinvestor.com/6778/top-investing-podcasts
Which of these is your favorite
song about money?
31% "Money" by Pink Floyd
21% "Money, Money, Money" by ABBA
20% "Money" by The Beatles
17% "Money for Nothing" by Dire Straits
11% "Mo Money Mo Problems" by
Notorious B.I.G.