More People Currently Saving for Retirement
Sometimes, we get news that makes us do the LearnVest cheer.
(Ok, fine: There is no actual cheer, but you get the picture.)
Today, that news came courtesy of Bankrate, which reports that 18% of Americans are saving more for retirement than they did last year, according to their annual Financial Security Index–an annual survey of over 1,000 adults meant to gauge Americans’ feelings about their financial security. That’s a slight bump from last year, when 15% said they were saving more than the previous year.
Additionally, there are fewer people saving less than the previous year. In 2011, 29% of Americans contributed less than they had the year before. In 2012, that figure dropped to 18%.
Overall, it’s good news.
The sooner you start saving for retirement, the better (because that time gives your invested money more time to grow, and to counteract any decrease in the market–you can read more about it here). Just in case you aren’t already putting what you can away for retirement, we walk you through each step of saving for retirement with our checklist. And if you’re already saving but worried about how it’s going, check out our top retirement mistakes to avoid.
We actually have an entire section of the Knowledge Center devoted to the topic, so you (and that 18% of Americans) can stay on top of the latest retirement news and tips.