By Lindsay C. Jones, Associate Attorney

Money doesn't buy you everything- but it will certainly be paying for your retirement. In today's world, a comfortable retirement requires income not just from Social Security, but from pensions, retirement plans, savings, and investments as well. It takes planning, commitment, and funding- but whether retirement is 5 years away or 25, you can take steps toward a richer, more secure future.

Of course, retirement (along with everything else) costs more today than it did 30 years ago. Indeed, retired Americans are now living longer and more active lifestyles, often spending 20 years or more with their retirement nest eggs as their main income. American companies and Federal funding have also changed with the times, with fewer companies providing traditional employee pension plans and Social Security being stretched to its breaking point. In fact, most Americans working today will be personally purchasing their retirement lifestyle, saving up and paying for it as if it were a car or house. Unfortunately, with most of our paychecks going towards more immediate financial goals like paying rent, setting aside even fifty dollars a month can be stressful. Yet saving up and investing your money today means that you'll be putting your money to work for you, leading to a higher payoff in the end. And that payoff is what will allow you to make the most important purchase of your lifetime: Freedom. The freedom to choose whether you want to work, or whether you want to play.

One of the first steps towards achieving freedom is to speak with a professional, who can help you plan how to pay off your high-interest debts, free up your money, and save and invest for your future. Robert L. Strickland, a Certified Public Accountant with Raese, Strickland, Berry, Grubb & Nuske, Inc., is one such professional. According to Strickland, there are five foundational steps to prepare for a comfortable retirement:

1) Know your retirement needs. You should plan to replace 70 to 90 percent of your pre-retirement income with income from your retirement nest egg. You ll also need to decide on your future lifestyle. Consider things such as going on fishing expeditions and visiting out-of-state friends and family- but don't forget the more mundane expenses, like maintaining your home and paying bills, too.

2) Find out about your Social Security benefits. The average retiree currently receives 40 percent of their pre-retirement income through Social Security, leaving the rest to be derived from the retiree's nest egg.

3) Contribute to a tax-sheltered savings plan. If your employer offers a 401(k) plan, sign up and contribute as much as possible- especially if your employer is willing to match your contributions. 401(k) contributions are generally deducted from your paycheck automatically, which not only helps you remain committed to the plan, but also lowers your income and reduces your tax.

4) Put your money into an Individual Retirement Account (IRA). If you don't have access to a 401(k) plan, or if you simply want a plan of your own, then an IRA is a good way to save money and gain tax advantages.

5) Don't touch your savings. Instead, consider it money already well spent. If you tap into your retirement savings early, you lose out on not only the principal and interest, but the tax benefits as well.

Also remember that, while keeping 'emergency' money readily accessible is important, the annual rate of inflation is currently at 3.3 percent. This means that your savings account will actually cost you money over time, as it will be unable to keep up with the rate of inflation. By starting to invest in a diversified portfolio of bonds, stocks, and cash today, your gains will have more time to outweigh any losses you might suffer, and the risks associated with investing will decrease.

Lastly, you should take a look at your legal documents to make sure everything is in order, so that your family continues to be provided for and protected. It can take a lifetime to build up your retirement nest egg- but it just takes one lawsuit to lose it. Asset Protection Plans, Revocable Living Trusts and Irrevocable Life Insurance Trusts can help your estate avoid probate, protect against spurious lawsuits, and provide tax benefits. Legal entities such as Limited Liability Companies also work to protect you, while legal documents like a Will, Living Will, Powers of Attorney, and HIPAA authorizations work to cut down on stress and confusion for you and your loved ones. The most important thing about investing in your future is not just deciding how you want to live today- its deciding how you want to live tomorrow.