Americans Still Missing The Boat On Retirement Savings

Forbes
By Kate Ashford
Published February 28, 2018

How do you get non-savers to save?

“I generally have clients start off with a percentage that won’t change their world,” Brancaccio says. “We start with 1% to 2% [retirement plan savings] and gradually, throughout the year or years, increase up to 5% to 8%.” Ideally, people should eventually be saving 10% to 15% of their salary each year—or more if they’re closer to retirement.

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. This article contains hypothetical examples and the examples are not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing.

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