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Determining how much you’ll need in retirement for housing, food, and other fixed expenses may seem relatively easy, but what about the costs that come out of the blue? An Ameriprise study found that 90 percent of Americans surveyed had faced at least one unanticipated issue or event that may have made retirement more difficult. The Pennsylvania Institute of Certified Public Accountants offers some insight into making sure your retirement isn’t upended by surprise expenses.

Create a sound foundation

Before you consider unpredictable expenses, be sure that you’re going to be able to cover the ones that you can see coming. Unfortunately, many people do not have a realistic idea about how much they’ll need to fund a secure retirement. When workers were asked last year how confident they were about having enough money to live comfortably throughout retirement, 18 percent said they were very confident, according to an Employee Benefit Research Institute Retirement Confidence Survey. That was up from 13 percent in 2013, but it still indicates that many people may be anxious about their future. If you’re worried about retirement, start making—or perhaps increasing—regular contributions to an employer or individual retirement savings plan so your savings can grow steadily over time. If you have questions about retirement planning or getting started on saving, your CPA can explain your options and offer advice for your unique financial situation.

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