Boosting Your Retirement Nest Egg - Motley Fool
It’s pretty well known that your monthly Social Security payment isn’t enough to live on comfortably. In fact, Social Security was never intended to be one’s sole source of income in retirement, and many beneficiaries get, at most, only 40% of the monthly income they enjoyed before retiring. Contrast that with the advice from most financial advisors that you’ll need at least 80% of your pre-retirement income to live comfortably after you hang up your work clothes for good. Also consider that traditional defined benefit pensions from American corporations are largely and rapidly becoming a thing of the past, and you might wonder where that additional 40% of retirement income can come from. And the most logical answer is from your savings. Can’t save, you say? Well, this Motley Fool article by Christy Bieber offers some pointers on how you can boost your retirement savings, even if you are now living paycheck to paycheck. Click here to read more.