Weekly Digest: Retirement Saving Tips
Saving for retirement can be a challenge. But it’s necessary for you to secure your desired future. Aside from seeking advice from financial experts and shopping for long term care insurance quotes online, we’ve gathered the latest news to help you set aside money for the golden years.
5 Simple Ways to Invest Your Retirement Savings
A Money Talks News report by Marilyn Lewis revealed some simple – yet effective – ways to save up for retirement. The approach that Marilyn introduces helps most individuals since not everyone has the time to dive deep into learning about investment. Best of all, the manageable tips allow retirement planners to have that important glimmer of hope that their desired futures are attainable.
When it comes to managing retirement savings, confusion reigns
According to Jamie Hopkins in a Market Watch post, more Americans are now having a hard time saving funds for their retirement. Jamie stresses the need of investing in annuities, primarily because of longevity being a major factor in draining one’s savings. Financial literacy, especially when it comes to budget and insurance, is also considered as a key tool for planning.
Poll: Young adults lack retirement savings
A Herald-Tribune article highlighted a recent study conducted by the Black Youth Project (University of Chicago with the Associated Press-NORC Center for Public Affairs Research). The poll revealed that almost half of its respondents (age 18- 30) have no retirement savings or access to a traditional pension at all. The troubling report shows that financial literacy needs to be addressed in the country.
Savings for retirement without a retirement plan
John Ninfo, in a post for the Victor Post, writes about how individuals can financially prepare for the golden years, even with no access to employer-sponsored retirement plans. Aside from saving emergency funds, John suggests investing in IRAs and a brokerage account. John also stresses that contributions be made by direct deposits, to save the time and trouble of deciding when a pay period should be.
What Your Retirement Might Look Like if You Put Off Saving for It
Dan Rafter writes an interesting take on why you start saving for retirement. The Quicken Loans ZING! Blog post shows that a delay in saving has direct consequences on the level of comfort one can expect to have during retirement. Putting off saving may also mean seniors needing to work past retirement, just to cover expenses such as food and bills.
Make sure to jumpstart your retirement plan with a long term care insurance policy. You can request for a long term care insurance quote by visiting our website.