Reported 2 days ago
At 60 years old and with just $15,000 in savings, a reader expresses feelings of hopelessness about retirement. While it's important to acknowledge the low savings amount, financial advisor Brandon Renfro suggests focusing on overall retirement readiness instead. He highlights the substantial 80% state pension that will serve as a foundation for retirement income. Suggestions to improve the situation include reassessing necessary expenses, considering working longer, maximizing pension benefits, and potentially finding supplemental income through part-time work. Better strategies may yield better results than simply saving more.
Source: YAHOO