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What You Should Think About When Thinking About Retiring

A Gallup Poll in 2016 reported that nearly two-thirds of Americans worried they did not have enough money for retirement. With other polls showing the retirement age is rising and more data showing Americans should expect to retire even later in life than previous generations, what effect does that have on your future plans? Check Your Savings and Create a Budget It seems to be an obvious first question: Do you have enough money socked away in savings? A majority of pre-retirees probably don’t have enough in savings if they wanted to quit working tomorrow. Life expectancies are growing, yes, but many Americans simply don’t save enough of their income to begin with. Savings should be at least 10 percent, if not more. For whatever reason, and it’s not always for reasons we can control, people tend to save less. How do you know if you’ve saved enough? And what…