Getting financially ready for retirement is very popular!
By iHeartMedia’s Sally Adams
Investing for your retirement is important - everyone says it's so. Now more people are saving more money for retirement than ever before. The average 401-K account balance is now over $106,000. IRA totals Doug Horne of Aspen Wealth Management says he thinks that’s because most 401(K) saving is automatic. “Money that comes out of a paycheck before they see it is money that is easily saved. Plus they get the added benefit of tax savings. It’s a wonderful thing!”
Saving for retirement is easier if you start early in your career. But what if you're already in our 50s? Horne answers: “It’s NEVER too late to start. Cut down on the things you can in order to save more. It will all compound for your future.”
Horne has clients who have become millionaires (and beyond) with steady saving and good investment management. “We tend to see people once they hit their 50s. They start thinking, ‘It’s time to start thinking about the long term.’”
Doug Horne is also the host of Smart Money Radio which you can hear on Sundays on KTRH.