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7 Ways to Retire with $1 Million

Retirement EducationHaving a nest egg of $1 million at retirement is unfortunately not as common as it should be in America. Although consistently saving starting at a young age, investing prudently, and avoiding early withdrawals significantly increases the odds of achieving retirement goals, many individuals still make many poor financial decisions which often take a large toll on savings over the years. Fortunately, Emily Brandon posted a great article which highlights 7 strategies to embrace for ensuring an optimal accumulation of assets for a comfortable retirement. Here are the 7 strategies that she highlights and explains:

1. Start saving by age 25

2. Select low-cost investments

3. Get a 401(k) match

4. Mind retirement benefit gaps when changing jobs

5. No early withdrawals

6. Balance safety with growth in investments

7. Boost savings once your kids are independent

Be sure to read the full article for details into each of these items. If saving at 25 has long past, be sure to learn how to use a more aggressive burst saving strategy to make up for lost time. Also, please seek guidance from a retirement income specialist when setting your goals in order to ensure that you do not run into any financial surprises.

*Nothing in this blog should be construed as investment advice

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