The thing about retirement and planning your finances for this part of your life always feels like a race. If you think you are not quite prepared, you are certainly not alone, but that does not mean that your perception is true. Even if it is, there are steps you can take to alleviate the problem and still improve your financial future. By the time you hit 30, your retirement saving should roughly equal the salary you earn in a year.
Key Takeaways:
- Don’t assume paying down debt is a priority over saving money for retirement.
- By age 40, your retirement savings should be three times your annual salary.
- Once within five years of retirement, you should start minimizing the risk in your retirement accounts.
“Many Americans don’t sign up for a 401(k) in their 20s, meaning they aren’t taking advantage of a potential employer match.”
Read more: https://money.yahoo.com/much-retirement-fund-ages-30-140017100.html
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