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The Road Towards Retirement: 4 Money-Saving TipsSalem-News.com Business
Jumpstart your plan and the easier it will be to retire when the time comes.
(SALEM, Ore.) - As the largest generation races towards retirement — with as many as 10,000 Baby Boomers leaving their jobs each day — America faces a crisis. People of all ages, including those born between 1946 and 1964, aren’t financially prepared to retire.
The time when the majority of workers had guaranteed pensions from their employers is over. Now, in the absence of these plans, most Americans have to rely on their savings to support them in old age, and it’s proving difficult.
Financial advisors suggest retiree hopefuls have at least 10–12 times your income saved for your golden years. According to the latest GoBankingRates study, a large portion of the population isn’t anywhere near this savings sweet spot.
Roughly 30% of survey participants aged 55 and above had absolutely no savings set aside for retirement, while another 26% admitted to having less than $50,000 set aside.
If the thought of entering your old-age with barely any savings to support you is a scary one, you aren’t alone! People from all generations are worried about how and when they’ll retire.
It can be a challenge, but when you use this guide to help you sock away some money for your retirement, you’ll be better prepared for a life away from work — even if you’re on a tight budget!
When your debts are minor and don’t exceed $1,000 but are still owed to a variety of lenders, you may want to consolidate your debt by usinginstallment loans. Owing different amounts of money to a long list of companies can confuse your finances.
When you have to speak with a separate representative from each of these organizations about your profile, it’s easy to mistake one debt for another.
By consolidating your date, you’ll owe just the one lender that facilitated your advance instead of a variety of different companies. Lenders such as MoneyKey make arranging such a loan incredibly convenient, so you can streamline your own finances without any complications.
Their installment loans online are simple to apply for and just as easy to repay, as the entire process from start to finish is completed over the web. Best of all, you’ll only have to communicate with MoneyKey as you use its advance to pay off debts to each company you owe all at once.
Preparing for the future is never easy and changing economic factors are making it harder with every year. If you worry about whether or not you’ll be able to retire when you’re 65, jumpstart your retirement plan with these 4 money saving tips. The sooner you commit to your future, the easier it will be to retire when the time comes.
Source: Salem-News.com Special Features Dept.
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