Toast 2019 with these 6 retirement New Year’s resolutions

Advisors


Saving more for retirement is a common New Year’s resolution. This year, the pledge comes in at the number five resolution in Principal Financial Group’s annual survey of 1,008 American consumers wishes for next year, with 21 percent of respondents stating a desire to sock away more for their golden years.

“The new year is a chance for new opportunities and a clean slate,” said Jerry Patterson, senior vice president of retirement and income solutions at Principal, in a statement. “The challenge will be taking those good intentions and making them last into February and beyond.”

Many financial experts advise upping your retirement savings rates past your company match (typically somewhere around 5 percent of salary) to double-digits, to 15 percent of pay or more. The more you save, the earlier, the greater your account balance come retirement, thanks to the power of compound interest. Beyond simply saving more, here’s a look, in broad strokes, at several other — out of a legion of possible — retirement-related resolutions you might consider making for 2019.



Source link

Products You May Like

Articles You May Like

Federal workers can find it difficult to pick up another job
Some taxpayers will still face a ‘marriage penalty’
Over 46,000 IRS workers called back to work to process refunds, calls
VF Corp shares up on outlook, but shutdown may delay spinoff plans
Morgan Stanley picks out biggest winners in this earnings season

Leave a Reply

Your email address will not be published. Required fields are marked *