Retirement plan decisions made easy
abcInvesting Blogs
April 2008
April 9, 2008
Workers Less Confident About Retirement Finances
Workers are more worried about their retirement finances, according to a new study by the Employment Benefit Research Institute. Although more people report actually saving for retirement, a greater percentage of people are worried. The increase in concern could be due to recent stock market weakness, or simply a realization that the tooth fairy only pays for children's teeth, not for old folks' teeth.
If you are worried about your own retirement, look at your actual numbers. We'll have an online retirement calculator running soon. In the meantime, try AARP's online retirement calculator. (If you are wondering how different retirement calculators compare, check out this article.)
For most folks, solving the retirement problem means saving more. Using a tax-deferred account, such as your 401k, is probably the best first step. If you are self-employed, the SEP-IRA is either your best choice, or very close to the best possible choice.
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