People aren’t saving enough. They are going to find out that they have totally inadequate amounts once they stop working. People need to change how much they are saving, when they start saving, and when then retire. If they don’t change, people will not be able to maintain their pre-retirement standard of living. USNews.com
Yeah, so, Happy Friday everybody… The nonprofit Employee Benefit Research Institute says only about 25% of us are confident we have enough money for retirement (or are on the right path to saving it.)
We will need something like 80% of our salary after we retire, and most of us aren’t going to get there just with the 5 to 7% we are putting in our 401k’s.
This article has some interesting things to say about how much to save, when to start, when to retire and everything in between. Check it out!
Sorry to be brief. Flu season! Have a good weekend!