Amp Up Your 401(k) No Matter How Much You Earn
What’s the number one concern of most retirees? Running out of money. It’s the natural consequence of our expanding life expectancy….For decades the financial services community has implored us to “Save More!” The reality, however, is that whether you’re in your 20s or 40s, saving for retirement takes a back seat (“It’s years away!”) to more immediate priorities such as paying the mortgage, an unexpected medical issue, braces and college for your kids and, of course, more immediately gratifying expenses such as vacations, a new car and other “necessities.” And let’s not forget the economy. Lay-offs and down-sizing not only prevent you from saving but may also force you to draw down some of the nest egg you’ve managed to save….Still, if you’re able to keep working in your 60s – even part-time and in a totally different field – there are a number of benefits. Read more…