How To Save Money For Retirement

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Americans get an F grade when it comes to their personal retirement savings. Taking into consideration such factors such as an unstable economy, the rising cost of just about everything, and not knowing properly how to save money for retirement  factors into understanding financial needs for the future. Most certainly the average retirement planning of individuals is

in a sad state of affairs.


Surveys have shown that:

  •  Over 50% of workers in pre-retirement years have less than $50k in their 401k’s. retirement accounts.
  • The payday cash advance business is a multi billion dollar a year business that is sucking the hard earned money from their customers
  • Hundreds of thousands of  people go to payday places, get stuck in a cycle of going from one payday place to the next payday place, with little to no chance of ever getting out of the system.
  • Some people are literally living paycheck to paycheck, with an outlook of never getting ahead.

Others are living well beyond their means, with “have to have” the most modern technology gadgets, must have more house then is needed, and literally over loading every credit card they have in their pocket


Where do you stand when it comes to retirement planning, do you have a plan, are you looking out for your best possibilities, will you have a positive cash flow that you know will continue throughout your retirement years??

Are you in complete denial as to the fact that you “are never going to get old.”  Or the response I hear the most, “I don’t have the money now, I can start saving later.”



How much will you need in retirement?


Of course the thinking is different and varies as to the expectations of later years.

Some people want to keep their lifestyles the same, spending the same amount of money, shopping, eating out.

Some want more in their retirement, years, where they are able to travel on a constant basis, buy things on a whim and have the attitude of “I’m retired, I deserve it” .

Some prepare ahead of time for those years with eliminating costly habits, downsizing, planning to be debt free, planning things out.

Statistics over the last couple of years show that over 48 million people receive social security benefits with the average monthly amount around $1,200.00 and some as low as $700.00 a month. What is shocking is that over 10 million of those individuals live totally on their social security benefit checks.


Did you know that most people heading into retirement should realistically have a target of at least 70 percent or more of  pre tax pre retirement income. 


  If you had to retire today, could you live off what you have saved?  Will you run out of money? The average life span is increasing, and experts say that you should detail your plans is if you are living to the age of 95.


  • Be alert and informed of your retirement planning
  • Know what direction your retirement is going in
  • Continue to grow your income, before and during retirement, your best option would be to start your own small business
  • Learn how to manage your money, eliminate debt from your life
  • Learn wealth building techniques
  • Learn and grow your inner attitude beliefs
  • Keep in good health
  • Eliminate risks, prepare for the worst, yet find the all around best possibilities



A good place for anyone to start is with the information found in The Ten-Year Turnaround: Transform Your Personal Finances and Achieve Financial Freedom in the Next Ten Years

Now you might be saying “10 years”,  but be truthful with yourself. Do you have good solid plans on a fully financially secured retirement or do you truly need to figure out and restructure what your retirement is all about.

We all need  to figure out how to save money for retirement.  

 No matter what your age is today, whatever your retirement plans are right now….get started as soon as you can… those 10 years are going to fly by.


Never stop learning…Angela

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  1. Wil

    I just started using the Acorns app, haha it’s a fun little way to save. Definitely some of these suggestions are the way to go. I have also opened an equity life insurance policy. The 401k’s can be a bit dated in their benefits and restrictions, but it’s good to start somewhere. Saving seems ever so important as social security fails.

    1. Angela

      You are so right, we can not depend on social security, we need to develop and maintain our own source of income for retirement and actually for everyday living.

      come back and visit often


  2. Joe

    Sadly, I have not started saving for retirement. Although my wife has a 401k through her work, I know I need to start a savings plan of my own.
    Yes I do work, but it is a small service job that does not have benefits. So my thoughts are savings account, or mutual funds, what do you suggest?

    1. Angela

      Savings is a vital need to build your future and have control over your retirement, but if you are at that age (and millions of people are) that savings is not really going to help you then you need to look at other sources of income that is flowing into your monthly budget, such as a homebased business.

      take a look around my site and share it with others,

      Come back and visit often


  3. L7

    Imagine working all those years only to find out you don’t have enough money in retirement to live on. This scenario happens all too often.
    I believe that we should begin saving for retirement when we are young and suggest opening an Individual Retirement Account (IRA) when you get your first job. The continuously squirreling away of small amounts adds up nicely over time.
    This article is full of meaningful tips, hints, and suggestions.

    1. Angela

      Thanks for your thoughtful remarks, hopefully many other people will get the message and start doing something about their retirement years before it is too late. Please feel free to pass this info along to others.



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