Making a budget can be a time consuming and frustrating process; yet as we approach retirement, budgeting, and keeping to that budget is more important than ever. The 2013 Survey of Consumer Finances found that among all working households, the average savings for retirement was only about $2,500. The numbers do get a little better when looking only at households of those over 55, with the amount of savings averaging around $14,500. But that is still far less than the 80% of the income generated while in the workforce that specialists recommend retirees have set aside. The question for many people is what they can do to increase retirement savings and financially prepare for the future? Here are some tips to get you on track.
If an unexpected bill arrived today, would you have the money spare to cover it? Despite living in what is probably the wealthiest nation in history, Americans still struggle to get by. Nearlysix in 10 don’t have enough savingsto cover an unexpected $500 bill, according to a Bankrate report. In fact, just 41% of adults … Read more