With more than 95% of American workers currently covered by Social Security, there are some things about this massive retirement program that you should probably know.
How to Avoid Retirement Woes
According to the American Institute of CPAs (AICPA), the top concern of retirees is running out of money. While it’s a known fact that many of us don’t begin to save for retirement when we should, it appears that nearly half of all current retirees are concerned about outliving their retirement funds. However, there are some things you can do now to help mitigate the very real risk of outliving your retirement funds. These include the following:
If you’ve only just begun your career and are starting to collect a decent paycheck, the last thing on your mind is probably retirement planning. When you’re in your twenties and thirties, retirement can feel light years away, but it will get here much quicker than you can imagine. And when it does, you’ll want to be prepared.
Creating a financial plan may seem overwhelming to those that have never completed one, but taking the first steps to creating a plan is much easier than you may think.
There are a variety of financial management tools and applications available today that can be used to help you manage your money. From software applications to phone apps, there’s no shortage of help available.