6 Ways To Close The Retirement Gap

Published Monday, September 18, 2017 at: 7:00 AM EDT

According to a recent article in The Washington Post, 71% of Americans aren't saving enough for retirement. If you're in this predicament, what can you do to close the gap? Here are six practical suggestions.1. Bolster your 401(k). Much as it may pain you, try to allocate more of your paycheck to your 401(k) account or similar retirement plan. In addition, to supplement an employer-based plan, you might contribute to an IRA. The tax law allows generous contribution limits. Contributions grow and compound tax-deferred until you're ready to make withdrawals.2. Invest wisely. If you can, investing additional money outside your...

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This article was written by a professional financial journalist for new michael mcdonald and is not intended as legal or investment advice.

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