Are You On Track For Retirement?
Even if retirement is a distant goal for you, chances are you could be devoting more income to that fund.
According to recent research , the average American in their fifties has only a fraction of the retirement savings necessary to pay for expenses after they are done working. But even if retirement is still a distant goal for you, chances are you could be devoting more income to that fund.
One of the best ways to save for life after work is to take advantage of your company's retirement savings plan, if they offer one. This allows for easy access to investment accounts that can get your savings started on the right foot.
If you already contribute to an account like a 401(k), try to increase the amount you save by 1 percent each year for even better growth.