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Struggling to Save for Retirement? Here's How to Break That Cycle in 2026.
Yahoo Finance· 2025-12-25 14:38
Core Insights - Saving for retirement is essential as Social Security only replaces about 40% of an average wage earner's pre-retirement income, necessitating additional savings for a comfortable lifestyle in later years [1][2]. Group 1: Importance of Retirement Savings - Most seniors require approximately double the Social Security replacement income to maintain a desirable lifestyle, highlighting the need for proactive retirement savings [2]. - The limited replacement income from Social Security emphasizes the necessity for individuals to start saving for retirement immediately to avoid financial struggles in the future [6]. Group 2: Strategies for Saving - Automating retirement savings contributions is recommended to ensure consistent funding, as individuals often find it challenging to save after paying monthly bills [3][4]. - Utilizing raises by directing additional income into retirement savings can help individuals save without feeling the impact of reduced disposable income [5]. - Exploring side gigs can provide additional income to fund retirement accounts, especially for those facing tight financial situations [6][8].
Dave Ramsey: 7 Brutally Honest Money Tips To Follow
Yahoo Finance· 2025-10-27 14:06
Dave Ramsey has shared brutally honest money tips for decades. He has helped people get out of debt and gain better control over their finances. However, even though Ramsey’s biggest fans may remember some of his core money tips, it’s good to be reminded. Learn More: Dave Ramsey Warns: This Common Habit Can Ruin Your Retirement Up Next: 7 Luxury SUVs That Will Become Affordable in 2025 These are seven of the brutally honest money tips Ramsey has shared over the years. Work a Side Gig Ramsey has encourag ...