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Retirement savings are a big concern for most Americans. Most workers no longer anticipate seeing a pension in their golden years. Also, the deposit caps on accounts like IRAs and 401(k)s make it difficult to accumulate wealth. It’s difficult even to retire comfortably just retiring on those instruments. Luckily, there are other strategies to pursue people who want to retire wealthy.

There are things people can do at every age to set themselves up for a comfortable retirement. Young adults in their 20s should seriously consider the impact compound interest can have on their future. Ideally, young people should strive to save 20% of their income. Part of this should be in a 401(k) or IRA account. Savings accounts don’t accrue a lot of interest. But accruing interest on interest over two or three decades in one is a powerful thing. It’s not a bad idea to keep a prudent reserve in a standard savings account at a bank or credit union.

Understanding the role interest plays in debt is also a key to good financial health. Entrepreneurs like Mark Cuban said they wish they’d avoided credit card interest when they were getting started in the working world. Draw on that kind of debt accrues in the same way it does in savings instruments. However, it acts as a drag, not a benefit, on a person.

People in their 30s should consider their revenue streams. In addition to working a typical job, it can be a good idea to find another way to earn money. Examples of this include renting out a room or even buying properties to rent them to other people. During their 30s, people should also start saving more for their retirement.

Finally, in their 40s, people should be on the lookout for lifestyle creep. This refers to a tendency to spend more as one’s salary increases. It’s a better idea to keep saving and living a modest lifestyle. Accumulate wealth before starting to pay in a big way. Also, don’t be afraid of medical expenses. People need to take care of their health as they grow older. With age, health problems may start to manifest. An HSA can be an excellent investment.