Retirement Savings
Are you saving enough for retirement? Probably not according to PBS/Frontline.
Over a 30 year working life, experts say you need to save between 15%-18% of your salary.
PBS-Frontline for more.
Another simple way to guess what you need is 12x your salary is your target for retirement.
The 401(k) plan probably isn’t the best solution for your retirement unless you learn how to invest – unfortunately, it is probably the best option that you have. You really don’t have any choice — learn some basics about investing and get started.
Schwab says you should expect to need about 25x your last year expenses before your first year of retirement. Check it here
Don’t put this off. You need to understand this sooner than later. GET HELP if you need it.
Or you will probably end up working when you should be retired.
