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MoneyGeek: Randy Dippell on Average US Retirement Savings

MoneyGeek recently interviewed Randy Dippell, wealth advisor and owner of Milestone Money, about American retirement savings for the younger generations.

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What issues should i consider before i retire?

MoneyGeek recently interviewed Randy Dippell, wealth advisor and owner of Milestone Money, about American retirement savings for the younger generations.

Discussing the average retirement savings for Americans, Randy explained that for those in their 20s and 30s, the magnitude of life changes ahead will likely shape their future needs. Looking at the numbers, a 25–30-year-old wanting to retire at age 60 will need to plan for 30 to 40 years of living expenses, adjusted annually for inflation.

Randy recommended that the best way for young professionals to get started on retirement planning is to begin with the basics:

  • Pay yourself first.
  • Take advantage of any employer match retirement contributions.
  • Have a disciplined plan to balance spending, saving, and becoming debt-free.

For more information, read Randy’s interview in full on ‘The Average US Retirement Savings’.

 

What issues should i consider before i retire?

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Life is full of financial milestones. We pay for college, we get married, we start businesses. But the most important financial decision we will ever make is when and how to retire. Milestone Money helps you map success to and through retirement.

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