Retirement Planning
The years go by pretty fast. Eventually we will all hit an age when we no longer want to work or worse, we are no longer able to work. Since the US government moved away from the pension idea to tax advantaged retirement accounts, people are left to their own devices for saving and investing for retirement.
Some think that social security will provide enough money to live a good life but we cannot rely on it, especially if we have many years to go until retirement. Even if we end up receiving social security, it may not be enough to comfortably pay for all of life’s expenses.
If we take a look at the average and median 401k balances across the US, most people are not investing enough to be able to comfortably retire at age 65. This is something that we need to fix with younger generations so that they can be set up for a happy and relaxing retirement.
The good news is that there are various investing tools available to help plan for a financially stable retirement.
