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Retirement Savings Before It’s Too Late | Raleigh News
Facing rising costs and shrinking Social Security payouts, millions of Americans nearing retirement are scrambling to save — but experts say it’s not too late. With benefits potentially only covering 83% of promised amounts by 2034, workplace retirement plans like 401(k)s are critical. Experts urge taking full advantage of employer matches — it’s free money. Starting early makes all the difference: saving $200/month from age 22 nets you $500K by 62, while $400/month gets you to $1M. But delay the start — say until 32 or 42 — and you’ll need $800 or even $2,000 monthly to hit the same goal…
The skinny
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