Take advantage of all catch-up contributions if you’re 50 or older
One of the main reasons why it’s super important to start saving as soon as possible is that some of the yearly contributions to IRAs and 401(k) plans might be limited. The good news is that as soon as you reach 50 years old, you’re officially eligible to go beyond the regular limits with catch-up contributions to IRAs and 401(k)s. So in the last years, you haven’t been able to save as much as you’ve planned to, and catch-up contributions might help boost all of your retirement savings.
Automate all your savings
You’ve probably heard repeatedly that “you have to pay yourself first”. Well, you can make your retirement contributions automatic every month, and you will have the chance to potentially grow your nest egg without having to think about it, as Greenberg confirmed. You can easily automate your investment selection with various investment plans, which will automatically protect your assets.
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1 thought on “Here’s Why Your Parents Retired More Easily Than You Will”
This is very poorly written and researched. It is nothing more than a quote story hastily written at an 8th-grade level.