According to a Real Life Retirement Journeys survey, middle-income households are saving for retirement at an 8% rate, which is a great sign for the retirement crisis. So what factors are leading to the improved retirement landscape?
In this episode of Decoding Retirement, Robert "Bob" Powell speaks with Jean Chatzky, HerMoney Podcast Host, to discuss the most recent statistics of retirement savers. Find out how auto enrollment and auto escalation are significantly helping individuals save for retirement in this week's episode of Decoding Retirement.
Saving at an 8% rate (1:00)
Retirement savers are saving at an increased rate.
"What that number says to me is that maybe things are turning around."
Auto-enrollment and auto-escalation (4:10)
How are retirement savers able to save more?
"That stuff is actually working."
How to spend consciously (14:20)
What are some ways to spend more consciously?
"Our money is flowing through our fingers in a very quick way." - Bob Powell
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Video highlights:
1:00 - Real-life retirement journeys survey
4:10 - Auto-enrollment and auto-escalation
7:10 - How much should you save for retirement?
9:25 - What accounts to use?
10:40 - Take advantage of workplace plans
13:10 - Retirement saving challenges
15:10 - Backwards budgeting
Retirement planning doesn’t mean locking up your money for a rainy day and forgetting about it. Planning your future means reacting to events today. Decoding Retirement gives you the tools to navigate the years ahead, and take action now!
Yahoo Finance's Decoding Retirement is hosted by Robert Powell, and produced by Austin Rivera.
Find more episodes of Decoding Retirement at http://goldberglawma.com/?id=videos/series/decoding-retirement.
Thoughts? Questions? Fan mail? Email us at yfpodcasts@yahooinc.com.