A recent Wells Fargo survey found that nearly 30% of middle class Americans plan to work until they are 80 or older -- up from 25% a year ago. With people struggling to save for retirement, we’ve recruited personal finance expert Lauren Lyons Cole to give us practical tips to properly plan for retirement at a reasonable age.
1. Make sure you’re getting the match on your employer’s retirement plan: This is an easy one, but you’d be surprised how many people still aren’t taking advantage of their employer’s match. Your employer may be offering free financial workshops. Go to them! Meet with your HR rep and increase your 401k contribution up to the match. If you’re already getting the match, increase it by 5% extra. You’ll barely notice the difference.
2. Open and contribute to a Roth IRA - These are magical accounts. They have only been around since the late 90s and Lauren thinks that one ofRead More »from How to plan for retirement to avoid working at 80