Right now, nearly 1 in 3 Baby Boomers have $0 saved for retirement. That’s right – nearly 30 percent of today’s soon-to-be-retirees have no money in savings for the golden years.
That’s why this National Save for Retirement Week we’re speaking out about the importance of planning for retirement. Check out the resources below to help see if you’re prepared for a secure, balanced retirement.
On the surface, transitioning to retirement means spending your days on the golf course or on the beach instead of in the office. But failing to prepare for retirement means more complications than leisure.
According to the 2014 Retirement Confidence Survey conducted by the Employee Benefits Institute, more than half of American workers may never achieve their retirement goals, as they haven’t calculated how much money they’ll need in retirement.
When it comes to planning for your “golden years,” there’s a lot at stake – will you have enough to last you your entire life? Will you be able to survive a health care crisis? Flipping the switch from saving to spending is unnerving and complex, but it can be made simpler by avoiding common missteps.
When it comes to saving for retirement, starting early is key. And while putting money away can seem like a huge and daunting task, it doesn’t always require major lifestyle changes. If you implement changes slowly and in small ways, you may not even realize how much you’re saving.
In order to ensure a relaxing and secure retirement, planning ahead is key. It’s something we all know, but let’s face it — figuring out where to start can be daunting. That’s why the Indexed Annuity Leadership Council (IALC) compiled and answered some of the most frequently asked questions when it comes to planning for retirement.