Saving for Retirement According to Your Age

The earlier you start saving, the better off you will be in retirement. Learn how much you should be saving for retirement according to your age and salary.

Important Points:

0:11 "Let's take a look at if you're in your 20's, 30's, 40's or 50's – what is the game plan here?"

0:22 "Let's say you're 30 years old. You want to have at least one times your salary saved. So if you're making $50,000 a year, you want to make sure you have fifty grand in the bank."

0:30 "Let's jump up to 45 [years old]. You want to have four times your annual income saved. Once you get into your sixties, that's eight times [your salary]; that's a huge number."

0:43 "Procrastination is one of the key components of why people are not necessarily successful."

1:05 "A lot of the time it's just simple arithmetic. How much money do I need to maintain the lifestyle that I want long-term?"

2:00 "That does show why you want to start as early as possible when you're saving."

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IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.
• Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

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