Nearly 50 percent of Americans aren’t prepared for retirement.¹ However, there’s still time to catch up. Here’s some insight on how you can better position yourself for securing a happy retirement:

 

1. Pay off large debts. By focusing on paying off debts such as mortgage, it will increase your savings ability and put you at a much better position. The trick is to commit to paying an additional amount towards the debt while investing in a small percentage of your income for retirement. Over time, you will be free of that debt and will then have the opportunity to increase the amount of savings.
2. Work longer. Of course, this is not ideal and not an option for everyone. However, if you are in good health and enjoy your job, working longer can be a good choice–not only for your mental health but your financial health as well. The extra few years will certainly make a difference!

 

Catching up on your retirement savings isn’t an easy task, but the good news is it’s never too late and more importantly, you don’t have to plan it alone. We can assist you in mapping out the course towards your dream retirement.

 

Securities offered through SCF Securities,Inc. Member FINRA/SIPC 155 E. Shaw Ave. Suite 102, Fresno, CA 93710 • (800) 955-2517 •Fax (559) 456- 6109. SCF Securities, Inc. and Creative Financial Strategies LLC are independently owned and operated. www.scfsecurities.com Note: Securities offered through SCF Securities Inc., Investment Advisory Services offered through SCF Investment Advisors, Inc. This document is for educational purposes only and should not be construed as legal or tax advice. One should consult a legal or tax professional regarding their own personal situation. Any comments regarding safe and secure investments and guaranteed income streams refer only to fixed insurance products offered by an insurance company. They do not refer in any way to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims paying ability of the issuing company. Variable annuities are considered securities products and require one to have proper FINRA registrations, in addition to proper state insurance licensing, prior to selling or discussing such products.

¹ https://www.stlouisfed.org/open-vault/2018/august/ready-retirement-question-nags-america