NWE - How to Overcome the Excuses Holding You Back from Retirement Savings
Saving for retirement is one of the most important things to do with your money. Unfortunately, most Americans are simply not doing a very good job saving. In fact, according to a recent Northwestern Mutual survey, more than one in five Americans have less than $5,000 set aside for retirement, and 15% have nothing saved for retirement at all. It's not just young people with too little savings, either. In fact, 17% of Baby Boomers don't even have $5,000 earmarked for retirement even as 10,000 Boomers turn 65 every single day.
Saving for retirement is an imperative because Social Security pays far too little to support you as a senior. Unfortunately, most Americans have lots of excuses for not putting aside the recommended 10% or more of income for retirement. While some of the reasons for not saving may indeed seem valid, that won't help you when you're a broke senior -- so it's important to overcome the things that are holding you back from saving enough.
How can you do that? Let's take a look at some common reasons people don't save for retirement -- along with some ways to overcome these obstacles so you can invest in your future.