Are you on track for your retirement?
If you are, FANTASTIC, if you are not or maybe are just not sure, stay with me here and we are going to do our best to help you in your personal finances.
Learn all that and much more on this weeks episode as Dave breaksdown 3 things to consider when you ask yourself, "Am I saving enough for retirement?!"
Here's another probing question for you.
Do you tend to keep a large balance in your checking account / savings account?
If so, it may be a sign that you do not have enough going into your retirement accounts... Or it could be you just don’t know what to do with it so the can gets kicked down the road another day.
That's just one thing to consider when determining whether or not you're saving enough for retirement.
The "extra" money in your checking account is not doing you any good in regard to having a fulfilling retirement.
Put it to work in a 401K or IRA today! Whatever your age, start now and open a retirement account or add to your current one.
You should save a minimum of 10% for that.
Questions for Review:
- Does it feel like you are on track for retirement?
- Do you have extra money (not needed in soon) working for you, compounding through growth assets, or do you just have it sitting in an ordinary checking or savings account?
- What one step can you take today to better prepare for your future?
Quote from the Episode: “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” ― Albert Einstein