Quote Of The Week: Are You A Retirement Savings Couch Potato?

cat couch potato“Stuart Ritter, a financial planner at T. Rowe Price, likens saving 3 percent to going to the gym for six minutes; you’re not going to whip yourself into shape.

A 9 percent deferral rate, then, is akin to a still sub-par 18 minute workout.

Ritter points out that at a 9 percent deferral rate the odds of your money lasting to age 95 is less than 40 percent.

His advice: save at least 15 percent of your pre-tax salary. At the very least, give yourself a much bigger cushion if your plan to keep working doesn’t work out as planned.”

Carla Fried, Retirement Roadblock: The Dangers of Magical Thinking,” May 20, 2103, Bloomberg News


About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

Subscribe to our updates

Stay informed about financial planning and investing issues that impact your life today and tomorrow! (we respect your privacy)

No comments yet.

Leave a Reply