July 29, 2014
Are you saving 15% for retirement?
According to the National Retirement Risk Index, published by the Center for Retirement Research at Boston College, half of American households are behind in their financial preparation for retirement. On average one should invest 15% of earnings for retirement throughout one's working life. The easiest way to accomplish retirement security is by starting young. But for workers at mid-life or beyond, their best bet is working longer, until age 70 when they are eligible for the maximum Social Security benefit. Read a summary of the study by Gil Weinreich (which contains a link to the full report) at: http://www.thinkadvisor.com/2014/07/23/half-of-households-risk-inadequate-retirement-inco