Retirement will come one day. How can we be sure we will have enough money put away to live on?
Most of us live a little above our means, so here are a few suggestions on how to go about saving a little more.
- Cut back on everyday expenses. Eating out and unnecessary shopping trips can add up.
- Look for lowest fees, ie. Bank fees, credit cards,etc.
- Set aside savings every month as part of your budget. Over a year, even a little will add up.
- Contribute as much as you can each month if you have a 401K at your workplace.
- Supplement your income if possible with a few side jobs if you can, then set it aside.
- Most importantly, get the advice of a financial planner to help you see how to best maximize your savings. There are many ways to do so we may not have thought of.