7 Retirement savings tips to avoid regret

Depositphotos_6339647_xsFrom the Chicago Financial Planner, Roger Wohlner, comes these seven retirement savings tips designed to stave off regret.

Wohlner (@rwohlner on Twitter) cites a recent survey that found 52% of those approaching retirement said they wish they started saving for the future sooner. 47% wished they had saved more of their pay check and 34%  regretted not saving more aggressively. As a result of all this, more than two thirds (68%) of those nearing retirement said they’re not prepared for what’s to come. Therefore, 42% of those between 55 and 64 plan to keep working, at least in a  part-time job.

Here are the 7 tips. Click on the link above for full detail on each tip.

1.) Start early.

2.) Increase your contributions.

3.) Start a self-employed retirement plan.

4.) Contribute to an IRA. [RRSP in Canada.]

5.) Don’t ignore old retirement accounts.

6.) Beware of toxic rollovers.

7.) Avoid high-cost financial products.

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