How much should you have saved before you retire? Well, that depends. New polls taken since the pandemic find that assumptions previously made about financing retirement are changing.
Financial institutions often assume that most seniors will rely on social security benefits and income from their retirement accounts when they retire. They will recommend a timeframe to retire and how much to save before retirement. However, new Gallup poles say seniors now believe that they will work a part-time job during their retirement years and depend on personal savings accounts to provide extra cash.
Seniors will need to keep their cash in high-yield rather than traditional savings accounts. New products offer these higher rates and also include tools to help you increase your daily savings habits. Retirees may feel more comfortable during unstable financial times if they have extra savings and earn money on the side.
Learn HERE about new products to help you save, modern ideas for part-time work, and advice on how much to have in your retirement accounts before you retire. The more you know, the more you will be ahead of the game financially when the golden years arrive.