How to Save for Your Dream Retirement
Are you prepared for retirement? According to a GOBankingRates survey, more than one-third of Americans are not saving for their golden years. This Money Saving Monday, 12News is here to help you navigate the ins and outs of retirement planning.
Whether retirement is looming or still a distant dream, it’s crucial to start taking steps now to secure your financial future. From estimating your expenses to maximizing your savings, there are several key strategies to consider.
Retirement means different things to different people. Some, like Ruthie Brown, view it with apprehension, fearing that they won’t have enough to survive. Others, like Sarah Hudelson, are already enjoying the benefits of retirement, relishing the freedom to pursue their passions. And then there are those, like Chuck Via, who are unsure if retirement will ever be in the cards but are focused on living in the present.
As the cost of living continues to rise, saving for retirement has become increasingly challenging for many Americans. But it’s never too late to start planning. Winston Stevenson, president and founder of Winston and Companies Retirement and Financial Services, stresses the importance of taking proactive steps to ensure a comfortable retirement.
Stevenson recommends five key steps to prepare for retirement. These include estimating your expenses, factoring in long-term care costs, maximizing your savings through programs like a 401(k), strategizing your social security benefits, and creating a diversified investment portfolio.
Planning for retirement can feel overwhelming, but with the right guidance and support, you can achieve financial freedom. If you need help crafting a retirement plan, reach out to financial professionals who can assist you in reaching your goals.
If you have any Money Saving Monday ideas or topics you’d like us to cover, email us at money@12news.com.
Stay Informed with 12News+
Stay up to date with the latest news and stories by subscribing to the 12News YouTube channel. Don’t miss out on the latest local breaking news!
Download the 12News App
Get instant access to local breaking news by downloading the 12News app on your phone. Stay informed wherever you go!
Watch 12News+ for Free
Experience the best of 12News with the 12News+ app. Stream live events, newscasts, and more on your Roku or Amazon Fire TV. Stay connected with the latest news and entertainment from Arizona!
More Ways to Follow 12News
There are various ways to stay connected with 12News. Download the 12News app on your phone, watch 12News+ on your streaming device, and follow us on social media for the latest updates and stories. Connect with us on Facebook, Twitter, Instagram, and YouTube to stay in the loop!
