Monday, February 29, 2016

Little Things Mean a Lot

Are you putting away all you can for retirement? A new study from Fidelity showed that even a 1 percent increase can make a big difference in what you'll be able to retire with, especially for younger people

The study found that a 25-year-old worker earning $40,000 a year who increases her savings rate by one percentage point now could lead to an additional $190 a month in retirement. That requires setting aside just $33 more a month right now.

And the increases add up. If that 25-year-old could increase his or her savings rate by one percentage point each year for 12 years, that would lead to an extra $1,930 a month in retirement income.

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