ARE YOU stressed about your retirement savings? Don’t feel alone. According to the Employee Benefit Research Institute, 61% of U.S. workers during 2020 felt the same way. The year 2020 continually tested confidence in retirement plans and investment choices. To make 2021 a different year, consider these tips to help you get a fresh start.
Start the process by reviewing your goals. You might have had a savings target based on certain assumptions about how you thought your life was going to go. These assumptions may have changed. For example, you may have gotten married, added a family member, changed jobs, or moved. As goals and circumstances change, the amount you need to save to meet them may change as well.
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Marc A. Hebert, MS, CFP, is a senior member and president of the wealth management and financial planning firm The Harbor Group of Bedford. Email questions to Marc at mhebert@harborgroup.com. Your question and his response might appear in a future column.