So whether or not we actually do it or not, the vast majority of us know we should be saving for retirement.
For those my age and younger, Social Security will be long gone by the time we retire.
Plus jobs, especially jobs for "seasoned" folks, will be even harder to come by than they are now.
Automation. Kiosks. Robots. Drones.
All these will eliminate human jobs.
So, without government support and without the ability to find/hold a job at age 70, all of us need to be doing serious planning for the future now. NOW!
There are many options, one of which being the 401k (assuming it's offered by an employer).
If you have the ability to save in a 401k, one of the easiest and smartest things you can do is take advantage of it...... especially the employer-match part.
If they are gonna give you free money, why not take it? DUH That's like giving you a raise without having to do anything to earn it.
But 401k savers, don't make this common mistake, which can really cost you:
Only 15% of 401(k) savers did any sort of rebalancing last year, one of the lowest trading rates on record. Rebalancing is a fundamental aspect of long-term investing. Say your target asset mix is 60% stocks, 30% bonds and 10% cash. Once a year you should sell just enough of the funds that grow fastest (lately, stocks)— and add enough to the laggards (cash and bonds)—to restore your target mix. This time-tested strategy ensures you will buy low and sell high over the long haul and maintain the right level of risk in your portfolio.
Important stuff.
Read the full article:
Out for now......
Matt