Retirement Savings: Catch Up Now, Not Later
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Retirement savings in America are alarmingly low, with the median balance in defined contribution plans at a mere $4,000. Pensions are dwindling, leaving Social Security as the primary income source for seniors. However, starting early and maximizing employer matches can significantly boost retirement savings. Investing $200 monthly from age 25 could grow to over $620,000 by 65, while waiting until 45 could yield less than $110,000.
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