Watch Out for These Retirement Derailers
To make sure your retirement isn’t derailed, consider these tips: 1. Start saving now. Because of the power of compounding, starting to save for retirement just a few years earlier can make a huge difference at the end. For example, a 30-year-old puts $400 per month into a tax-deferred retirement plan (like a 401(k)), which generates $1,015 per month in retirement income for 30 years beginning at age 65. For the 35 years that the individual is saving (from age 30 to 65), she