CNBC lists two ways to improve your retirement savings as follows:
Two steps — delaying retirement until 67 and putting away at least 6 percent of your salary — can make a huge difference, according to new research from Morningstar.
Here’s why these are such good moves:
Just those two actions could boost the chances that American households will have what they need in their golden years to 71.2 percent from 25.6 percent.
This article is a commentary on both the U.S. mainstream media as well as the financial intelligence of the average American.
For the media, this article was enough to get published despite being Personal Finance 01. Yep, that’s right, I won’t even call it Personal Finance 101 — it’s so basic.
As for the average American, why isn’t he already saving 6% of his income? If he was doing even more he could retire well before 67.
It’s just another post that says to me how far behind so many are in a basic area of life — managing their money with success.