I would guess more than 75% of the people who read this post think of retirement very little or not at all. But I challenge you all to start atleast researching and placing a penny or 2 that way.
...Well unless you want to work for the rest of your life.
Did you know 1 in 3 Americans have nothing saved for retirement?
And women are 27% more likely to not have anything saved for retirement then men.
How much do you think you need saved to retire and avoid living in poverty or going bankrupt?..
Bank reports in a new survey, citing data from the Federal Reserve report that Americans between the ages of 55 and 64 who have retirement savings only have an average of $120,000 saved away. This is only 12 percent of what experts say you need to retire. The recommendation for retirement currently is $1 million dollars saved and that for some would not even suffice considering the constant rise in the cost of living.
And here is another scary statistic. Americans age 55 account for 20% of bankruptcies.
What are you doing to get ahead these stats?
Do you consider retirement benefits when accepting a job? And for my entrepreneurs, do you have a Retirement Savings set aside?
If not. Maybe you should start now. Or even start to research alternative plans like IRAs. I would assume the average age of my audience is late 20s early 30s. Which is relatively young, but let’s put it into perspective. Most people want to retire by 60, so for most of us we are half way there, but our savings accounts are not. So let’s take someone 32 for example. That leaves 28 years to save $1 Million or more. That’s roughly $36,000 a year saved for retirement every single year until you are 60.
Think about that...
And the average salary for a 30 year old in the U.S. is $41,236.
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