• Question
  • How can I improve my retirement saving?

    Asked by a 72 year old man from Deltona, FL on 10/28/2014

    How can I improve my retirement saving?

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  • Categories: Retirement Planning, Budgeting

Answers

  • Steve 

    Steve 
    NewRetirement

    San Francisco, CA

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  • Great question. Savings can be viewed as excess income that you don't need to cover your expenses - so you can either increase your income or cut your expenses.

    You can find articles on cutting expenses here: http://www.newretirement.com/Services/Reducing_Expenses_to_Insure_Retirement_Security.aspx

    The other big lever you have is to work longer - so you have more time to save, more time for your investments to create a return and less time that you'll need to rely on your savings & investments. The NewRetirement Calculator may come up with other suggestions for how to generate more income and savings as you plan for retirement: https://www.newretirement.com/retirement-calculator/default.aspx

    Finally many people rely on Social Security for much of their retirement income and you can find articles on getting the most out of social security here: http://www.newretirement.com/Services/Social-Security-Benefits.aspx

  • Login to rate this answer:   Answered on 11/2/2014
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.