7 Steps to Take Now to Catch Up on Retirement Savings
This New York Times piece talks about the gut punch the pandemic was for many, especially those who had not been saving adequately. The article dives into seven things one should do to catch up and get back on track. First, track your total spending. Second, focus on health insurance. Third, make catch-up contributions if over 50. Fourth, automate your savings. Fifth, adjust your portfolio. Sixth, plan to retire later. Seventh, set up your own retirement plan if self-employed or running a small business. Full piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.