Retirement Savings Regrets

Mostly when we read about retirement savings regrets, it has to do with things like not starting saving sooner, or not saving m [Image] Your Daily Wealth Health Alerts! - [3 Effortless Ways to Save More for Retirement in 2021]( This year has been difficult for everyone, and millions of people have experienced financial hardship due to the COVID-19 pandemic. Around 36% of Americans who save consistently say they're saving less due to the pandemic, according to a survey from Pew Research Group, and one-third say they've had to tap their retirement savings to pay their bills. If you haven't saved as much as you had planned to this year (or if you were forced to withdraw some of your retirement savings), you still have time to catch up. By taking advantage of these three effortless ways to supercharge your savings in 2021, you can ensure your retirement plans stay on track. - [6 unexpected events that could drain your retirement savings]( Two-thirds of workers across three generations – millennials, Generation X and baby boomers – are confident they’ll be able to retire with a comfortable lifestyle, according to "What is 'Retirement?' Three Generations Prepare for Old Age," a 2019 survey of workers published by Transamerica Center for Retirement Studies, a nonprofit foundation based in Los Angeles. You may think you’ve got retirement covered with savings in retirement and other accounts. However, whether you’re nearing retirement age or already enjoying retirement, unexpected expenses due to aging, along with shifting economic and cultural factors, can derail, or at least curtail, your financial plans for retirement. - [1 Effortless Investing Move That Could Nearly Double Your Savings]( If you could double your savings without actually investing any additional money out of your own pocket, would you do it? While taking advantage of this money move may seem like a no-brainer, many workers are missing out on the opportunity to supercharge their savings. This investing strategy takes very little time to implement but can have significant long-term effects on your finances. - [Retirement Savings Regrets]( While not getting an employer match is surely disappointing, that’s not the only benefit to saving in a 401(k)—but this author figured (after checking in with a certified financial planner) that she might have been better off saving in a IRA, which would offer “a nearly unlimited universe of investment options,” and “much lower fees.” Now, we don’t know anything about the menu she had access to, nor what those options cost—it’s hard—though not impossible—to imagine she’d have been better off on her own. However, she apparently hadn’t focused on the pre-tax opportunities of that 401(k)—nor on the higher contribution levels available there. If {EMAIL} should not be subscribed or if you need to change your subscription information for Wealth Health Alerts, [please use this preferences page](. 21215 Burbank Blvd, STE 600 Woodland Hills, CA 91367