💰Start investing early and take advantage of compound growth.
📉By your 30s, aim to have saved around $50,000 or more.
🚫Avoid lifestyle creep and unnecessary spending in your 40s.
💵Invest 15% of your salary starting in your 40s to retire comfortably.
🎉In your 60s, aim to have saved around $3.6 million for a comfortable retirement.
How much should I be saving for retirement?
—Experts recommend saving at least 15% of your income for retirement.
What if I haven't started saving for retirement yet?
—Start as soon as possible to take advantage of compound growth and catch up on savings.
Is it too late to start saving for retirement in my 40s or 50s?
—It's never too late to start saving for retirement. Save aggressively and seek professional advice if needed.
How much should I have saved by my 30s?
—Aim to have saved around $50,000 or more by your 30s.
What steps can I take to catch up on retirement savings?
—Cut unnecessary spending, increase contributions, and take advantage of catch-up contributions in retirement accounts.
00:00[Music] Breaking news: America is facing a retirement crisis.
00:08Nearly half of Americans aren't saving enough for retirement.
00:23In your 20s, start investing and aim to save around $50,000 or more by the end of the decade.
03:46In your 30s, increase your contribution rate to at least 15% of your income.
05:23In your 40s, cut unnecessary spending and focus on increasing your retirement savings.
06:58If you're in your 50s, take advantage of catch-up contributions and consider downsizing your home.
08:02By your 60s, aim to have saved around $3.6 million for a comfortable retirement.
09:31In your 70s, make the most of your savings and enjoy your retirement years.
