3 Steps To Jump-Start Your Retirement Savings In An Afternoon. Few people feel entirely confident they’re saving enough for retirement. The numbers can be vague — how long your savings will need to last; your cost of living in retirement; what the stock market will do between now and then. And money is tight, especially as U.S.household debt hits record highs. To do that, plug your current income, how much of that income you think you’ll need every year in retirement, the amount you’ve already saved and your age into a retirement calculator. For example, NerdWallet’s retirement calculator will give you a monthly savings target, which is easier to manage than a total savings goal — knowing you need $2 million total for retirement can be daunting; knowing you need to save $1,000 a month gives you a more tangible goal, even if you have to work up to it. Not everyone has a 401(k), of course, but even if you do, it can be useful to supplement that account with an individual retirement account you fund directly. When you do that, you’re spending after you’ve saved, rather than saving what’s left after you’ve spent. Administratively, it can make sense to roll these old accounts into an IRA, especially a low-fee account you manage yourself. You’ll cut out any fees you were paying to your old employer’s plan, and you can select low-cost investments like index funds and exchange-traded funds.
It’s clear that a majority of people want to remain independent as they age and now technology can help them do so. As a Northern Virginia resident and an employee of AARP, I was drawn to a recent local event titled “Can Technology Help Older Arlingtonians Age Independently?”
The event was the fourth installment of Arlington County’s Digital Destiny campaign which seeks to explore the impact of the Digital Revolution on defined aspects of life for the county and its residents.
This session featured Arlington county employees, local residents and aging experts discussing tech trends likely to have the greatest impact on older Americans.
- Amy Doherty, Chief Information Officer and AARP
- Brittany Weinberg, Director of Community Engagement,Aging2.0
Doherty discussed three emerging trends and how they can apply to aging independently:
- Leveraging virtual reality to…