New Year...Review Your Retirement Plan
It's that time of year when we reflect on the past and set goals for the future. It is a good time to review your retirement plan. Many of my clients think they are set because they have a work 401K. However, as stated in a recent study cited by Forbes,
“Almost 20 percent incorrectly think they are prepared, in large part because they do not recognize that their 401(k) savings are inadequate to last for their whole retirement period.” 60% do know if they are on track or not, and the other 20% think they are not prepared when in fact they could afford to maintain the same standard of living they have now.
