A shocking result from a recent Wells Fargo survey: “22 percent of Americans in the middle class would rather die early than not have the means to live comfortably through their retirement years. And whether your idea of a comfortable retirement includes time with grandchildren or daily tours on the golf course, Americans have never been more aware of one thing: their retirement savings isn’t up to par.”
Yikes. That is not good, to say the least, and doesn’t end there: Accordign to the survey, “41 percent of Americans aged 50-59 in the middle class aren’t actively saving anything and those in their 40s who have been contributing to a 401(k) have just enough for about one year of retirement. More distressing is that this isn’t necessarily for a lack of trying, but could be the result of high fixed costs and lower annual incomes.”
Joshua Kadish, AIF, RFC of RPG Life Transition Specialists, a holistic wealth management firm, advises clients to decide what’s most important in life to them and look for ways to live that ideal retirement while staying true to their budget.