According to a study
released in August 2007 by the Center of Retirement Research at
Boston College, the National Retirement Risk Index (NRRI) shows
that almost 45 percent of U.S. households will not have enough assets
at retirement to maintain their accustomed life style. For many
of these people retirement will have to be delayed to save enough
money or they will be faced with a diminished standard of living.
The NRRI findings are consistent with another study
released in September 2007 by the Benefit Research Institute (EBRI)
and the Investment Company Institute (ICI).
Here the average 401(k) balance for workers in their 60s is $157,727.
Workers in their 50s have an average balance of $148,927.
Imagine trying to live on that small amount of money for years
and years after you retire. To ensure that you have enough money
for a financially secure retirement, start an aggressive savings
and investing program now.
Cut your spending, maximize your savings, become a knowledgeable
investor and invest in solid growth and dividend stocks. Then, at
retirement you can spend your time counting your money instead of
continuing the same old grind.
Related Articles:
Control Your Spending and
Increase Your Savings
Getting To One Million Dollars
for Retirement Takes Discipline
Preparing for Retirement Takes
Some Planning
Posted october 31, 2007.
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