Reported 12 months ago
A guide from CNBC Select reveals the importance of having an emergency fund and the savings needed for retirement based on age groups. It suggests saving 10 times your income to retire comfortably at 67, with specific savings milestones at ages 30, 40, and 60. However, a survey shows that many Gen Xers are not planning for retirement, leading to a potential savings crisis. Tips include starting with small monthly contributions, utilizing high-yield savings accounts, and building a substantial emergency fund worth three to six months of expenses.
Source: YAHOO