Let’s start with the employer plans, 60% of employers offer some sort of retirement plan, but only about 50% of employees take advantage of the plans offered.
I know we have weeks dedicated to so many different things. Did you know we have a donut week? So we should have a Save for Retirement week!
According to the Employee Benefit Research Institute’s latest study on borrowing, more than 20% of participants have outstanding loans from their retirement plans.
Listeners tell me they’re not worried, they’ll have their Social Security, but Social Security was never intended to be your only source of income in retirement.
The average 401(k) balance came in at $80,600 at the end of the second quarter of this year (2013) according to a report released by Fidelity, which represents 12.4 million U.S. workers.
Workers over 50 can contribute an extra $5,500 this year to their 401(k), 403(b), 457.
Sixty percent of employers offer some sort of retirement plan but only about fifty percent of employees take advantage of the plans offered.
Looking for a tax shelter? The best way to beat taxes is by investing in your retirement plan.
Honor Dad this Father’s Day….Get his estate in order.
In doing research on Dumb Money Moves I found a great list in a CNN article.