Will I Ever Be Able to Retire?

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Lately I’ve been having lots of conversations with participants around being able to retire.

Several of these conversations have been with folks that are getting closer to retirement and I’ve had a few with younger employees who are just starting out.

The older workers think of the retirement plan like an old pension.

They asked me how much it would pay them for the rest of their life.

I had to explain it was based on how much they had saved into the plan.

Today I want to talk about you being able to retire and I want to talk about how to help you have a comfortable retirement.

But first, let me ask you a question.

The question is, how do you as a 401k or 403b participant become a 401k superhero to your future self?

That is the question, and these videos will give you the answers. Hey, I’m Jonathon Schultheiss and welcome to the Becoming a 401k superhero videos.

Earlier this week I had a meeting with an employee who was in their late 50s.

They had questions about their retirement plan and how much it would pay them in retirement.

We talked about how it was based on how much they had saved for retirement.

When I explained this, they thought it was too late to make much a difference in their account balance by the time they retire.

After I ran some simple calculations, I showed them that making as little as $100 a month increase in what they were saving made a huge difference in the amount they would have at retirement.

And if they could afford to do more it was even better.

Then I had a conversation with a younger participant who had just started working.

I shared the story of the older employee.

I then explained to them that because they had many more years to save, it would take considerably less savings per paycheck for them to have a much larger account balance at retirement.

I also explained to the younger employee that if they could save for 10 years and stop, they would have much more at retirement than an employee who waited 10 or more years and saved twice as much.

Here’s the point of the story, its never too late to make a difference in saving for retirement.

And it’s never too early to start saving for retirement.

Both of these employees are becoming a 401k superhero to their future self.

If you have questions about having a comfortable retirement and wanting to know if you’re saving enough to become a 401k superhero to your future self, then click on the link above and schedule a time for me and you to have a conversation today.