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NerdWallet's Smart Money Podcast

Am I saving enough for retirement?

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2665 Ratings

🗓️ 8 July 2019

⏱️ 10 minutes

🧾️ Download transcript

Summary

Here’s how to know if you’re saving enough for retirement — and what to do if you’re behind, or haven't even gotten started yet. Dayana and Sean explain easy steps to help you set aside a pot of gold to spend in your golden years. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:22.8

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0:34.1

Hello and welcome to Nerdwalt's Smart Money Podcast, where we answer your real-world money

0:38.5

questions in 15 minutes or less.

0:40.6

I'm your host, Sean Piles.

0:42.3

And joining me as my co-host, Deanna Yocham.

0:44.7

Today we're talking about a topic that I really nerd out about, and it's retirement.

0:49.6

Retirement savings, retirement planning, and do you have enough saved?

0:53.3

And this is a topic you've been writing about for longer than I've been alive.

0:57.0

Yeah, was that really necessary?

0:59.0

Yes, I think it shows that you have expertise, skills, experience.

1:03.0

Okay, good recovery.

1:04.0

Anywho, today's question comes from Allison M.

1:08.0

She says, Deyana and Sean, I've been putting away 10% of my income into retirement

1:12.4

for the past 12 years, but I'm not sure if I'm saving enough. Am I on the right track for a comfortable

1:17.3

retirement? I think actually Allison deserves a standing ovation. Saving consistently over 10 years

1:25.2

and putting my 10% of her income. That's really quite an accomplishment.

1:28.2

Yeah, agreed.

1:29.2

Kudos Allison for actually thinking about your retirement and making sure you're trying

1:32.5

to save enough because in fact fewer than 50% of all workers actually make sure they're

1:37.4

on track for a right retirement, including doing the math to make sure that's the case.

1:41.7

People really love rules of thumb and in general the save 10% of your income one is a good

...

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