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Your Retirement Savings Plan: save today or save later? Planning for retirement is one of the most important, and most overlooked, financial tasks facing individuals and families today. How much money will I need to save for my retirement? National Life Group and I can help you determine what you can do to help improve your retirement savings outlook today. A penny saved is a penny earned, but a penny saved today is a penny earning more over the course of the years. It is never too soon to begin taking advantage of compounding interest, so if you start saving now you will need to save considerably less than if you wait a few years. Why not starts your retirement savings plan today? National Life Group and I can help you get started today! Recently published savings guidelines recommend that a typical U.S. worker must save at least eight times their final salary to meet basic income needs during retirement. By saving eight times' income by age 67 should provide most U.S. workers with roughly 85 percent of their preretirement income in retirement, according to Fidelity’s recommendations.

The published

guidelines recommend that U.S. workers should have the equivalent of their annual salary in savings by age 35 to reach the first benchmark en route to fulfill their savings goal. From that benchmark, individuals should then plan to have saved twice their salary by age 40, four times' salary by age 50, five times by age 55 and six times by age 60. To stay on track under that savings plan strategy, a U.S. worker with a $60,000 salary must have saved not less than $240,000 by age 50. Setting a savings target that's a multiple of a worker’s income appears to be an increasingly popular concept in financial planning. Its advocates a belief that it is a simpler and more manageable way of monitoring progress toward retirement security than trying to achieve a certain level of assets. It must be assumed that the report’s 25-year retirement calculation estimates a minimum a 6% return on the 8-X-salary savings figure and $18,000 annual Social Security payments just to maintain 85% of previous earnings. It must also be assumed the typical U.S. employee does not have a pension as the published study cites 401(k)s savings accounts which are subject to stock market fluctuations. While a target of $1.0 million is largely un-attainable sum for most, this amount has been posted as the generally acceptable retirement savings target for most U.S. workers.

Based on the

published recommendations, a $50,000 year earner should have save at least $400,000 by retirement age. Such investment and economic stability isn't being enjoyed right now as result of current U.S. economic woes. As can be seen, experts cannot agree on what the ideal amount of savings required for retirement.


So why not start your retirement savings plan today? National Life Group and I can help you get started with your retirement savings plan today! We provide access to a wealth of financial products that allows you; as the contract holder, to accumulate money on a tax-deferred basis as well as without the risks associated with stock market fluctuations and receive a series of payments at regular intervals after retirement for life. People such as you have accessed these financial products to obtain an income or to supplement retirement income they will receive from Social Security, pension benefits, investments and other sources. National Life Group offer various types of life insurance and financial products that are suitable for your retirement savings plan, protects your savings from risks associated with stock market fluctuations and each product is designed to help meet specific personal as well as business needs and objectives. Contact me via email at fernandez_jose@nlvmail.com or call me at 786-473-5359 anytime for upto-date information on how National Life Group and I can help you get started with your retirement savings plans today.

National Life Group Retirement Plans  

A penny saved is a penny earned, but a penny saved today is a penny earning more over thecourse of the years. It is never too soon to begin...

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