The golden rule of retirement has been, put every penny you can in your retirement fund. But 23 News financial expert Scott Laue says most people didn’t listen. The average account balance is $44,000. But the average retiree spends $3,000 a month so that many will disappear fast. Laue says we need to start saving more, sooner rather than later.
About 40% of our retirement savings comes from our paychecks, and Laue says, while out employers may no longer be matching funds for our 401-K, its still important that we contribute.