“For Americans behind on saving for retirement, a bad stock market can be a good time to invest more”
June 6, 2022
“Small business owners are among the Americans most likely to fall behind on saving for retirement. Investing back into a business is more often a priority for entrepreneurs with any excess cash than investing in a long-term tax-deferred retirement plan. Covid didn’t help…
Thirty-seven percent of small business owners say they aren’t confident that they are saving enough for retirement, according to a March survey by ShareBuilder 401k of 500 small businesses. But that’s down somewhat from the 44% who said two years earlier they weren’t confident in their retirement savings ability…
1. Put at least 10% of income into retirement if you can
Generally, investing experts suggest saving 10% to 15% of your earnings annually over a 40-year-career — just to maintain the same standard of living at retirement, said Stuart Robertson, CEO of ShareBuilder 401k. Yet the March survey found that only 38% of businesses surveyed were saving 10% or more. Meanwhile, 24% said they were not currently contributing…”
I’ve said this before but recessions and depressions are when the wealthy make their money. When everyone else is selling they are buying.