budgeting, credit counseling, dave ramsey, debt, Free Money, gina koerner, interest rates, money, pay less, prosperity, retirement, saving money, savings, st louis by gina, st louis homes by gina, stlouisbygina, stlouishomesbygina
By Dave Ramsey
Your actions have the most influence over your retirement success!
Most folks today have a low opinion of their retirement prospects. Few actually believe they’ll be able to retire before they’re 80, and even then they expect to work to supplement their retirement income. Another sad statistic: Approximately 75% of people in their 40s are actually more afraid of outliving their savings than they are of death!
In the midst of all this pessimism, there are many retirees who are confident that they have saved enough to live out their retirement comfortably. Why is their outlook so different? It isn’t that they know something most people don’t. It’s that they’ve taken action in ways most people never do.
Real-World Retirement Advice
A recent survey of more than 1,000 retired 401(k) participants identified six specific actions these confident retirees took as they saved for retirement.
- 90% increased their 401(k) contributions when they were able.
- 87% made the most of their 401(k) plan.
- 84% estimated their retirement income needs before they retired.
- 83% reviewed their retirement strategy on a regular basis.
- 77% enrolled in their retirement savings plan early in their careers.
- 73% saved the maximum about of money permitted by their 401(k) plan.
Boil it all down, and this is what you get: Save as much as you can for as long as you can, and be involved in selecting and monitoring your investments. It’s advice we’ve heard—and given before. And as these real-world retirees can confirm, it’s advice that works.
You Have the Power
The study points out that it’s hard to be confident about retirement when you’re not saving for retirement. That may sound obvious, but how many people do you know who worry about having enough money to retire but then admit that they don’t have a plan to save that money?
If you’re one of those people, you need to understand that your actions have more influence over your retirement success than taxes, stock market performance or nearly any other factor. Simply increasing the amount you save can result in a better retirement than almost any other action you can take.
Start Saving Today!
It’s a lot of pressure to know that the outcome of your retirement savings plan rests so heavily on your shoulders. That’s why it is important to work with an experienced investing advisor you trust to help you create a plan and implement it.
www.StLouisHomesByGina.com The Gina Koerner Team 636-229-8746