Tips & Topics - Retirement
Retirement Overview
Did You Know?
Today, only 43 percent of Americans have calculated how much they need to save for retirement.
In 2005, of those who had 401(k) coverage available, 25 percent didn’t participate.
The average American spends 20 years in retirement. (Source: Department of Labor)
The U.S. Department of Labor provides a top ten list of ways to prepare for retirement planning.
No matter how old you are, it’s important to start planning for your retirement now. Although it’s never too late to develop a financial plan, the more time you have to put your plan into action, the easier it is reach your retirement goals.
And no one knows your goals better than you. But, having goals is one thing – developing a plan to achieve them is quite another. And sticking to that plan is something that only you can make happen.
Fortunately, you don’t have to do this alone. There are numerous State and federal resources to help you understand the options available to you. As part of Your Money New York, we’ve assembled planning tips and resources to help you achieve your retirement goals. In this section, we provide information to help you:
- Prepare for Retirement
- Understand Your Retirement Plan
- Know What to Expect From Social Security
- Estimate Your Retirement Income
- Determine Your Expenses
- Develop Your Savings Plan
- Put Your Plan Into Action
- Additional Resources