As with most financial habits, knowing what you need to do is the easy part. Following through with it is where most people run into trouble. To help you in that regard HERE are the 4 most important factors that help determine whether or not you’ll have a large enough nest egg to cover your living expenses during retirement.
The above mentioned edited excerpt – and the following paragraphs – come from an article by Ben Carlson entitled The Four Pillars of Retirement Savings which can be read in its entirety HERE.
One of the best ways to get useful financial advice is to ask those who are older than you what they wish they would have done at your age. A recent study from Wells Fargo did just that and 75% of survey respondents 40 years of age or older said their biggest financial regret is that they didn’t start saving money earlier.
Surprisingly, 50% of the non-retirees in that group said they are still waiting to ramp up their current savings rate to make up for the shortfall. They know where they went wrong, but they still can’t bring themselves to correct the mistake.
As with most financial habits, knowing what you need to do is the easy part. Following through with it is where most people run into trouble. HERE are the 4 most important factors that help determine whether or not you’ll have a large enough nest egg to cover your living expenses during retirement.
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