Top 3 Best Ways to Save for Retirement for American Employees

Posted by Mary Grace under Personal Finance on March 19, 2016

The best way to save for retirement is to save money automatically especially when you are an employee. Know why automatic-saving is effective.

I am a fan of David Bach, the author of “The Automatic Millionaire“, he said;

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“Remember, inspiration unused is merely entertainment. To get new results, you need to take new actions.”

Read the book entitled “The Automatic Millionaire” and follow the tips on how can you save and invest money for your financial future.

Many people whoa re very interested to save money for retirement. They are interest in a couple of days after they heard the importance of retirement planning. But, soon their enthusiasm and interest in retirement planning fades.

Many people especially young ones are not interested to save for retirement. They find saving money for retirement boring. All they really want is to enjoy life. They go wherever they are, they will do whatever they want, they spend all their money and buy anything they want.

The things they don’t know is that “time goes by too fast”. They are wrong if they say “it’s not the time to plan for retirement. I should enjoy my life today because I am still young.” They will just laugh at you when you talk about retirement planning.

Other people has few “invalid reasons”. They say, how can I save money for retirement if my salary is just enough to sustain the needs of my family. How can I save for retirement if I have lot of things I want to do and buy.

Best Way to Save for Retirement is to Do It Automatically

Those invalid reasons and alibis can’t help you. Today, let me teach you here in Retirement Planning IQ on how can you save money automatically for retirement.

best way to save for retirement

Image Credit: Spanish Coches on Creative Commons 2.0 via Flickr

  • Tell your employer that you wish to contribute in a 401k
  • Open a individual retirement account at myRA available at the US Department of the Treasury
  • Open a savings account and tell your bank to invest some portion (desired amount) in their investment products such as unit investment trust funds.

The best way to save for retirement is to make it automatically. This is to ensure that you are really saving and investing money for your retirement. So, whether you are an employee who loves to spend all your salary, whether you like it or not, before you receive your paycheck, a portion of your salary will go in to your retirement account.

Retirement Quote of the Day

Retirement is like a long vacation in Las Vegas. The goal is to enjoy it the fullest, but not so fully that you run out of money. – – Jonathan Clements

What do you think? Are there any excuses for other people to not save money for retirement? Nothing! They can save money easily and automatically. Share this with your friends and leave a comment below.

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