According to a recent study by T. Rowe Price, over 70 percent of investors aged 21 to 50 list retirement savings as their numer one financial goal
Retirement Concerns Not Translating into Good Decisions
According to a recent study by T. Rowe Price, over 70 percent of investors aged 21 to 50 list retirement savings as their number one financial goal. But when compared to how they actually spend their money, there is a clear mismatch between what they say is their goal and how they actually spend their money. For most people in this age group, saving for retirement competes with lifestyle expenses, paying down debt and establishing an emergency fund. To ensure a comfortable retirement, its necessary to save 15 percent of your annual income for that purpose, but the majority fall far short of that. Making matters worse is that younger investors are showing a lower risk tolerance, with 37 percent avoiding stocks entirely. Combining a high percentage of savings with investments that provide higher returns is necessary to have sufficient retirement income.
Learn more at Financial Planning.
About small business finance expert Mike Periu
Mike Periu has experience in small business finance. He founded Proximo, LLC a company that offers consumer and small business training services focused on technology and money.
Mike Periu teaches individual empowerment through entrepreneurship and financial literacy. He has appeared 500+ times on television and radio. Visit the Reach and Media pages of his website to learn more about where he has appeared.
You can read more of Mike’s articles on his blog or at American Express OpenForum, Yahoo! Finanzas and the Huffington Post.
Mike has a degree in International Business and Finance which he received at Georgetown University in Washington, DC. He received a Fellowship from the Kauffman Foundation for the Labs for Enterprise Creation program in Kansas City.
