Retirement Stats That Are Fit For A Pumpkin!

66 is the current average age of retirement

1 out of 12 Americans believe they will never retire at all

38% of Americans fail to save because of too many other expenses

The average 401k balance in 2020 was $129,157

Close to 60% of Americans are losing sleep about retirement

Retirement is a number it's not an age. You work hard your whole life. You climb the mountain and you have nothing to show for it. Most Americans enter retirement with very little saved. Others have 20 plus years left on their 30 year mortgage they took out 30 years. Some even are foregoing retirement to put their children through college. That's a bad plan. Your children may go to college, they may not, but you definitely will retire.

You need to allow yourself to dream what you want retirement to look like for you. Then start reverse engineering your plan. If you want $3 million dollars to be your retirement goal what needs to be true today in order for that to occur. What action steps will you take. But how do I plan for retirement? There's inflation, my budget is so tight I can barely make ends as it is! First you have to start with a doing a written budget. Get an idea of what you can cut back on. Once you get in a rhythm doing a budget will be simple. You will find additional income that you have been allowing to slip through your hands this whole time. Next start looking at using your new found money and begin to put it towards your outstanding debt. When you don't have debt hanging over your head everyday, you can start to take all of those minimum monthly obligations plus your new found money and begin to fund your 401k, your IRA or whatever your preference. Its not just enough to fund your retirement. You want to make sure that you are invested in good mutual funds. If you're not sure where to begin search for a local smartvestor professional in your area.

Remember 15% invested into your retirement is a good rule of thumb for a respective goal