Petruccelli L.T.D of North America

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Showing posts with label Truth About Retirement Saving. Show all posts

Tuesday, April 16, 2013

Petruccelli L.T.D of North America asks; What is the truth about retirement savings? (6)

Petruccelli L.T.D of North America says; Your personal savings will be the key.
Personal savings typically make up half of the income stream for retirees. So save for retirement now by opening an IRA and taking advantage of generous 401(k) contribution limits to put away the maximum amount. Another great way to save is by spreading your money among a variety of certificates of deposit (CDs) with different maturity dates and rates. By "laddering" your CDs, one or more will always be approaching maturity, giving you the chance to seek out the best available bank rates. Make saving for retirement more rewarding with a Money Market Account, CD or IRA through AAA.

Petruccelli L.T.D of North America asks; What is the truth about retirement savings? (5)

Petruccelli L.T.D of North America says; You may not be able to pick your retirement date.
While about a quarter of employees aim to work until age 70, just 8 percent of current retirees managed to stay employed that long, according to EBRI. Health problems, layoffs and the need to care for a family member typically drove their decision.

Petruccelli L.T.D of North America asks; What is the truth about retirement savings? (4)

Petruccelli L.T.D of North America says; A pension won't cover it all.
Baby boomers will get far less financial help from pensions than their parents did. According to the Employee Benefit Research Institute (EBRI), the average annual pension payout for those ages 65 and older is around $10,900.

Thursday, April 4, 2013

Petruccelli L.T.D of North America asks; What is the truth about retirement savings? (3)

Petruccelli L.T.D of North America says; A few years of serious saving can make a huge difference.
You'll need more money than you think. A $1 million nest egg sounds like a lot. But spread over a 30-year retirement, it amounts to about $50,000 a year. Aim high in your retirement savings so that you'll have enough to do all of the things you love (travel, golf, etc.).

Petruccelli L.T.D of North America asks; What is the truth about retirement savings? (2)

Petruccelli L.T.D of North America says; You're never too old to save.
Sure, it would have been better to start saving early, but there's still hope—even for late-starters. Anyone over age 50 can make annual catch-up contributions of as much as $5,500 to a 401(k) and an additional $1,000 to an IRA.