Retirement is not as far away as you think. Studies of the age of our brains show that time actually does get faster as you get older. Or at least it is useful to our brains.
As each day passes, you are retiring faster and faster. are you ready?
One of the best ways to understand retirement is to talk to people who are already retired. Although we hope to retire every morning at a local coffee shop as a trip, garden and coffee time, this is usually not a carefree time.
A study conducted by Brightwork Partners for Putnam Investments analyzed people who have been retired for two to six years. These retirees are old enough to have a traditional pension, but are still young enough to own 401[k].
Traditional pensions are rapidly disappearing, but this has not made the current retirees' society more advantageous than the younger generation.
New retirees have an average annual income of $36,000 before tax. Nearly 50% of respondents said that their income was less than $25,000, while 25% of respondents said their annual income was less than $15,000.
More than half of the retirees say their living standards have declined since they stopped working. Only 30% said they live comfortably. 21% of respondents said it is difficult to maintain their livelihood.
More than 40% of the annual income of retirees comes from social security. The average income of savings and investment is only 11%.
As traditional pensions become a thing of the past, social security is uncertain for future generations, and today's workers must start saving immediately.
Talk to retirees and you will find that retirement is not easy over time. More than 60% of retirees say that the longer they retire, the harder it is. Many people are surprised to find that maintaining a certain standard of living is quite difficult.
The most satisfied with retirees are those with the highest income and assets. For example, 50% of households with an annual income of $75,000 are "very satisfied" with retirement.
Most retirees will tell you that they want them to save more. Nearly 60% expect them to start saving early.
What can you learn?
Start saving now and save as much as possible. Don't feel that retirement may be better or different. Once the time has passed, it is too late.
Sit down on your finances and start planning to save for retirement. It doesn't matter if you can only afford $25 a month. The key is that you have to give back something. As time goes by, maybe you can save more. Interested, your savings will grow. I hope that you can become one of those "very satisfied" retirees.
Orignal From: Start saving for retirement now
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