CINCINNATI (WKRC) – Nearly half of all Americans retire with less than $10,000 saved and rely on social security alone in retirement. Being proactive can help you live the lifestyle you desire later in life. Independent wealth management advisor Rob De Lessio of Strategic Wealth Designers shared ways to avoid this downfall.
Starting now is the first step. “There is no time like the present to start saving,” De Lessio says. “Don’t put it off any longer. Even it just a little bit every paycheck, getting started is the first battle. Next, if you can, start early. The pain of discipline at a young age will outweigh the pain of regret down the line.”
Many people miss out on free money! If your employer will match your contribution to a retirement plan, take advantage of that option. Not only will you be actively saving, but you take advantage of extra money from your employer.
“Create a budget that promotes saving,” De Lessio says. “Taking a realistic look at your spending, and more importunately, where you can save money, will benefit you down the line. Minimize exposes where possible by making small changes, such as eliminating subscriptions you don’t use anymore.”
Utilizing a financial expert when you can is the key to your retirement success. Seek out help to save appropriately and eventually create an income plan for retirement while keeping your money safe.