Do You Have Enough Saved for Retirement?

Photo by Marc Najera on Unsplash

Ready to retire?

Beyond discussing the possibility of early retirement – and the freedom that would bring – most U.S. adults never consider their retirement plans until it’s too late.

In your twenties, thirties, and forties, you may feel invincible. You’ve gone from entering the workforce to climbing the corporate ladder, then achieving some sense of stability in your life and finances. In your late thirties and early forties, you feel far more confident in your skills and abilities that you may not consider what would happen when you’re too old for the workforce. 

Yes, some executives work well into their old age, but, for many Americans, trying to find a job past 60 is incredibly challenging. That’s why you need to take an intentional look at your retirement savings and start making sacrifices today to ensure you can live comfortably in your old age. You should have saved ten times your pretax income if you want to retire by 67. You can calculate how many years you still have until 67 to determine what your monthly contribution should be. 

From there, you should also consider paying off your mortgage and making future-proof investments, so you have far more disposable income when you’re older.

Total
0
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Article

Do You Have a Disaster-Proof Emergency Fund?

Next Article

California Exodus Continues, Fewer People Moving to State

Related Posts