Are you Saving Enough for Retirement?

It doesn’t matter if you’re 25 or 45, it’s time to start thinking about retirement. This doesn’t mean weighing your options between Florida and Arizona or considering whether you’ll take up boccie ball or golf. The important thing to think about is whether you’re stashing enough away for your golden years.

According to the Department of Labor, Americans spend 18 years in retirement. And the Department of Labor also says that less than half of all Americans have ever calculated how much they need for retirement. The AARP’s website has a retirement calculator. If you want to be part of the 42% of Americans that have actually calculated how much they need for retirement, check it out. Another retirement calculator to check out is this one from MSN. (http://moneycentral.msn.com/retire/planner.aspx) Turns out at the rate I’m going to run out of money at age 79 and if I live to 85 I’ll leave behind over $243,000 in debt. Looks like I might not be saving enough. But at least now I know.

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