What Is Normal?

I recently read an article about retirement savings and it asked this question:”Are You Normal?” As I was reading I found according to statistics that 29% of American households over the age of 55 have NO retirement savings & NO pension.

Where do you stand? Are you average? Another statistic says that almost 40 million American households have no retirement savings. That would include households between the ages of 25-64. Scary isn’t it? Does that mean you’re going to have to work til you die?  So what is normal?


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Some experts seem to think that a working person should have an equivalent of one year of salary saved by age 30. That would be a start. Do you like your lifestyle now while you’re working? You should be saving some of it now for retirement.

Here’s the bottom line. Trying to balance everyday living expenses, student loan payments, childcare and all the rest makes it difficult to save. But difficult choices should be made. An easy beginning would be to save 10% throughout your working years. Plan for retirement as you would plan for your yearly expenses.

Just make a plan! Another option would be to supplement your income.  Have you ever noticed any seniors working at your local grocery store or fast food restaurant?  Maybe they’re there because they’re bored at home, maybe not.