The simplest way to grow your savings
With Social Security replacing only about 40% of pre-retirement income, there is an urgent need for workers to save more money. Automatic savings through payroll deduction is the easiest way to save, as the money is deducted before it can be spent. Workers should invest in their company 401k plans or in an individual retirement account (IRA). Maurie Backman stresses the importance of paying yourself first in this article and cites a 2018 study where 58% of Americans have less than $1,000 in the bank. Read 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.