Retirement life: How start saving, manage 401K plans, benefits and more

PIX11 Morning News

NEW YORK — Many of us tune out when we hear the word “retirement.”

Although we may not be interested now, we will be when we’re ready to stop working and suddenly find out we have no income or when we get our first social security check and wonder where’s the rest of it.

About 25% of the workforce has nothing saved for retirement, according to a Federal Reserve report.

Brandi Broxson from “Real Simple” Magazine offered a few easy ways to get us all in the retirement game. 

Haven’t started saving for retirement? Get started as soon as you can.

  • Check if your employer offers a 401K and if they match contributions
  • Start a “peace of mind” fund

No 401K or pension plan

  • Open an IRA account
  • Embrace the “Set it and forget it” mentality

Midlife Goals

  • List current and future priorities
  • Create and account for each goal

Goals for those 50 and older

  • Be laser-focused
  • Determine how much money you’ll need
  • Considering hiring a professional financial advisor

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