Latest News
Retirement Savings and You - Investopedia
It’s a sad, but true, reality - most entering retirement do not have enough saved for that monumental lifestyle change! Financial advisors say you should have at least 10 times your final annual salary saved for retirement, but precious few American’s accomplish that. Doing so requires starting your “nest egg” savings early in life, and many advisors say that you should have at least $500,000 saved by the time you are 40. But here’s a stark reality: only a small percentage - about 10% - of American’s do.
But that doesn’t spell disaster because there is still time to catch up, as discussed in this Investopedia article by Adam Hayes. Although many factors contribute to accumulating an adequate retirement account, discipline is key. Click here to read the Investopedia article.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.