5 quick ways to boost your retirement savings
Let’s start with a question: do you have enough in your retirement account? According to a recent report by Avant-garde, the average American has about $140,000 saved for retirement. For people aged 65 and over, this average balance is about double, or $280,000.
Sounds like a lot, right? But for many people, even with Social Security, that won’t be enough.
If that’s you, let’s fix it. In this podcast, we help you create a plan to boost that retirement savings.
As usual, the host Stacy Johnson is joined by the financial journalist Miranda Marquet. Listening and sometimes contributing is productive Aaron Freeman. This week’s guest is friend of the show, Joe Saul-Sehy from Stack Benjamins.
Remember that even though we sometimes talk about specific money and investments, never take them as recommendations. Before investing in anything or making other money moves, do your own research and make your own decisions.
You can watch this episode below, or if you prefer to listen, you can do so with the player at the top of this article or download the episode wherever you get your podcasts:
Are you ready for retirement?
The Employee Benefits Research Institute points out that 7 out of 10 workers are convinced that they can retire comfortably. On this show, we talk about the potential disconnect between what you think is enough and what is actually enough. Here are some articles that may help you.
How to Create a Retirement Plan That’s Right for You
Stacy mentions her book “Life or debtas a good starting point to help you figure out what you want out of life and how to prioritize it. Joe and Miranda also have great ideas for creating a retirement plan you’ll stick to. We also mention our podcast on paying off your mortgage aggressively in order to have more money available in retirement.
Let’s take a look at some great Money Talks News resources on planning for retirement.
Meet this week’s guest, Joe Saul-Sehy
Joe is a former financial advisor (16 years old) and has represented American Express and Ameriprise Financial in the media. He was the “Money Man” of Detroit television station WXYZ-TV, appearing on the air twice a week. He has appeared in Bride, Best Life, and Child magazines, as well as the Los Angeles Times, Chicago Sun-Times, Detroit News, and Baltimore Sun newspapers. It has also appeared online in over 200 different places, including CNBC.com and WSJ.com.
Don’t listen to podcasts?
A podcast is basically a radio show that you can listen to anywhere and anytime, either by downloading it to your smartphone or listening to it online. They’re great for learning and entertaining while you’re in the car, doing chores, jogging, or riding your bike.
If you haven’t listened to our podcast yet, give it a try and subscribe. You’ll be glad you did!
Stacy Johnson founded Money Talks News in 1991. He is a CPA and he has also been licensed in stocks, commodities, principal options, mutual funds, life insurance, securities supervisor securities and real estate.
Miranda Marquit, MBA, is a financial expert, writer and speaker. She has covered personal finance and investment topics for nearly 20 years. When she’s not writing and podcasting, she enjoys travel, reading, and the outdoors.