It’s Not Too Late To Save For Retirement

Feeling behind the eight-ball when it comes to saving for retirement? Many Americans do.

But don’t despair. “Don’t be depressed if you don’t think you have enough,” commented Mari when talking to journalist Robyn A. Friedman for a March 2023 City & Shore interview. “I’ve seen clients who have been very successful in making their money last and having a good quality of life who really didn’t have much saved. Most people out there don’t have a million dollars.”

As a general rule of thumb, Mari said, you’ll need 80% to 100& of your pre-retirement income once you retire. For most people, Social Security benefits will cover a big chunk of that. If you’re short of funds, consider working longer, delaying Social Security, or downsizing your home.

Most important? Do a retirement test-run to see where you stand long before the big date. “You can always recalculate, so if you’re not on the right path you can change it,” said Mari.

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