Are You Saving Enough for Retirement?Submitted by AMSG on June 23rd, 2017
Retirement should not scare you, as long as you have saved for it. But, that’s where many people seem to be lagging behind. Studies show that Americans are not saving enough, while traditional sources of retirement income (from employers and government) are facing challenges.
Unfortunately, not everyone is acting fast enough. A study by GoBankingRates reveals that 69% of American adults have less than $1,000 in their savings account, and that includes 34% who have no savings at all!
Putting away an adequate portion of income goes a long way in building a strong nest egg. By putting money regularly into your savings/investment pot, you won’t be pressured into making major compromises in your living standards when you approach retirement or after. The earlier you start to save, the less you need to save each month to meet your financial goals. While many of you probably know that already, according to a recently published study by Bankrate, “not saving for retirement early enough” topped as the biggest financial mistake among 1,001 U.S. adults surveyed in early May.
To take the leap from knowing what is needed to actually implementing it, one requires an effective savings/investment plan and the discipline to follow through. But, what exactly qualifies as ‘effective’ for your plan? And, what are the best ways to materialize your savings goals without hurting your current financial situation? If these questions are standing in your way of planning for retirement, you should consider seeking professional help to make your retirement planning simple.
Contact us to help you plan and manage your retirement.
Tom McNeill 732-581-9920 or firstname.lastname@example.org