Make Saving a Habit

Make Saving a Habit

by Mary Suplee on Oct 17, 2018

I can't overemphasize the value of regular saving being a lifelong habit. CNBC reported in May that 21% of Americans have no retirement savings and only 16% save 15% or more. Your goal as a preretirement saver should be to save 15% of your annual income through both qualified and after tax accounts. Look at this example by J.P. Morgan showing the tremendous advantage of saving over longer periods of time. If you invest regularly over a long time horizon you will not have to play catch up as you approach retirement.

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