It seems there is a lot of bad news in the nation about how
prepared the next generations are for retirement. While many people plan to
keep working through their retirement years to be able to meet monthly household
expenses, US Media Studios learns there is good news comes that 45 percent of the working public is on track to
live comfortably after they reach retirement age.
It is essential that retirement savings tools and resources
are used to calculate how much will be needed. But here are some other tips
from Fidelity to help everyone obtain what need financially to have a decent
retirement:
- Save 15% of pay. If the employer matches contributions, that counts.
- Replace retirement portfolios that are too conservative or aggressive with one that allocates according to age guidelines.
- Work until the full retirement age of 66 for early boomers, and 67 for those younger than that – not age 65 as most retirement calculators figure.
As US Media Studios often reminds readers, if health and
lifestyle permit, work longer, perhaps part-time, as a contractor or as an
adviser. Keeping busy and active are keys to a longer life. And isn’t it better
to have a longer life when the savings are there to support it?
We concede that it can be very difficult to save anything
when jobs disappear, there are older parents to care for, adult children come
home to live, and health challenges around every corner. The trick is to have
retirement savings automatically deposited from paychecks into retirement
accounts. Out of sight is out of mind and out of mind is money socked away for
the time when is just that – work. And it’s time to leave.
