It’s never too early to start thinking about how to save for retirement.
The right blend of a balanced portfolio can serve you well financially for the length of your retirement.
Social Security helps, but it won’t be enough income to rely on after you’ve retired.
As the old saying goes, knowledge is power. That’s true whether you’re talking about finances or studying for finals at college. And with the threat of a recession continuing to loom, it seems like the perfect time to provide some valuable information about how to save for retirement.
The fact is it’s always a good time to review your retirement strategy, but for those of us turning 50 or older, that topic might hold more relevance and may pique your interest a bit more. But it should be on your radar no matter your age because it’s simply never too early to start thinking about things like tax advantages, traditional IRAs, 401(k) plans, 403(b)s, and contribution limits.
Each of those are important to consider holistically, because together, they form the foundation of your retirement strategy. As for specific actions like how much you plan to contribute to your employer-sponsored retirement plan or what the target amount is to save for, we’ll let the quiz below do the talking. And, as always, we recommend getting in touch with a financial advisor as you’re considering the best strategies for your retirement. They’re well versed on what works and can tailor your plan to your specific needs. Plus, they’re just plain fun to talk to — after all, they have a wealth of knowledge!
Now, instead of a simple article covering all those topics, we have a different way to help you learn more about saving for retirement.
So, who’s ready for a little pop quiz? Don’t worry — unlike traditional quizzes, you won’t get penalized for wrong answers here. Instead, you can just look at any missed question as the chance to learn something new that will help you in the long run as you improve your knowledge base on how to bolster your retirement savings.
Transamerica Resources, Inc. is an Aegon company and is affiliated with various companies which include, but are not limited to, insurance companies and broker dealers. Transamerica Resources, Inc. does not offer insurance products or securities. The information provided is for educational purposes only and should not be construed as insurance, securities, ERISA, tax, investment, legal, medical or financial advice or guidance. Please consult your personal independent professionals for answers to your specific questions.
