Are you concerned that you are way behind with respect to your retirement savings? If you are like most Americans, you have not saved a lot for retirement. The infograph below underscores the issue.
Losing weight happens 1 pound at a time. You can get yourself back in on track to financial fitness with just 1% change to your savings rate. Commit to increasing your savings rate to your retirement plan at work 1% each year moving forward.
Here are some suggestions from myself and other Garrett Planning Network advisors below, to help inspire you to get moving and take the steps you need to increase your savings and feel better about your ability to retire in the future.
From Michele Clark: Employer Retirement Accounts: 2013 Contribution Limits
From Roger Wohlner: Need Post-Election Financial Advice? Try the 1% Solution
From Sterling Raskie: A Nifty Little Trick to Increase Savings
From Mike Piper: Investing Blog Roundup: Saving 1% More
From Robert Wasilewski: Increase Savings Rate By 1%
From Steve Stewart: Seriously. What’s 1 percent gonna do?
From yours truly: Add Your First 1% to Your 401(k)