5 Ways to Build Retirement Savings During Uncertain Times

According to a survey by Funding Our Future, more than a third of Americans with household incomes below $50,000 report they have less in savings than before the pandemic.

Over the last two years, American workers have endured the one-two punch of a pandemic-induced recession followed by a rapid increase in inflation. 

The good news is there are many ways for the average American to help their retirement accounts thrive even during uncertain times. 

Make Sure You Are Getting the Full Employer Match

In addition to your regular salary, many companies offer to match contributions to your retirement account to a certain percentage. 

Optimize Your Asset Allocation

Most experts advise a more conservative mix of investments to ensure steady passive income in retirement as you grow older. 

Take Advantage of Automatic Contribution Increases

If you time it to coincide with your annual pay raise, you can add, for example, an additional 1% to your retirement savings each year without feeling the pinch of a lower paycheck. 

SWIPE UP TO READ MORE!

Discover  more from  wealthofgeeks.com

How to Save Money for a House: Here are 21 Effective Ways

How to Budget Money 101 (You Know You Need To)