Put Your Priorities in Order -Save for Yourself First!

According to Employee Benefits Research Institute, many Baby Boomers and the Generation X-ers will run out of money for basic needs early in retirement– many within 10 years of going into retirement. And current studies show Millennials are on the same path.

How upsetting to be ready to retire – but learn you have to continue working to make ends meet. Or worse yet – to be in retirement only to find you have to return to the workforce.

What steps can you take to make sure you are not facing this challenge when you hope to be retired?

First – commit to contribute to your retirement savings with each pay check. How much? To get started, whatever you can afford. If that amount is $5-10 per paycheck – start with that. Getting in the habit of savings NOW will help you for the rest of your life.

Secondly – as your pay increases, commit to increasing the amount you put towards savings.

If you want to retire in the style YOU choose, put your retirement savings at the top of your list!

Have any comments? Post them below!

One thought on “Put Your Priorities in Order -Save for Yourself First!

  1. It actually never occurred to me to save for a retirement savings until reading about it for one of my classes in college. It has just always been something I didn’t think about and thought “Oh, I’ll figure it out eventually!” But it is very important to start saving up for retirement because I would like to be able to retire comfortably and without any worry or threat of having to go back to work. I feel that once I finish graduate school and begin making my “real” salary, I’ll start saving separately for my retirement, even if it is only the $5-$10 per paycheck as stated above. If I want to retire without any stress, I need to start saving!

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