The Insured Retirement Institute put pencil to paper on the question of just how much procrastination can cost someone saving for retirement and came up with an attention-grabbing figure: $127,000.
That's the amount of retirement income lost when someone earning $42,000 a year at age 30 postpones saving for retirement until 40.
The point of the IRI's efforts? To underscore that, while it's true the ability to put money away isn't always something people can control, it's also true that the sooner you start, the less of your income you'll need to put away.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
