Save money for retirement

Save money for retirement. Keep saving. It seems that fewer people are saving adequately for retirement. Some feel they may never be able to retire.

Here is what you need to know about saving for life after you stop working and getting on the path toward a comfortable retirement, no matter your career or the size of your paycheck.

• Focus on starting today Especially if you're just beginning to put money away for retirement, start saving and investing as much as you can now, and let compound interest the ability of your assets to generate earnings, which are reinvested to generate their own earnings have an opportunity to work in your favor. "The more you can invest when you're young, the better off you'll be,"

•  Saving is a habit. It may make a rational, mathematical sense to start saving early, but it isn’t always easy. But the instinct to save grows as you do it. It’ll start to feel good as you see that account balance grows.

•  Automate Your Savings You may have heard the phrase "pay first."(But if you had read Rich Dad and Poor Dad, then you disagree with me) Automate your pension contributions every month Then you don't have to remember it.

• Many financial planners recommend that you save 10% to 15% of your income for retirement, starting in your 20s. But that's just a general guideline.

• The Average Retirement Savings by Age. If you're like the majority of people, you probably need to step up your retirement-saving efforts. An October 2017 Government Accountability Office (GAO) analysis found that the median retirement savings for Americans between ages 55 and 64 were $107,000.

You need to exit the working world by age 67 (Social Security’s full-benefits age for those born from 1960 on), or whatever retirement age you choose.  Plug those numbers below and you’ll launch which will open on a new page. The calculator will project how much monthly income you'll have in retirement, based on your current savings, as well as how much you'll need to sock away.                                                           

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                                      https://www.calculator.net/retirement-calculator.html

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