I have to say I have no idea. Retirement savings continue to fall behind despite the fact that older Americans need at least 70% of working income, accroding to a news report by Interest.com, in order to retire comfortably and without the stress of impoverishment.It’s a shocking number, and to Americans who haven’t given saving for retirement more than a minimal once over, it can make a difference in how they live during retirement, if they retire at all.

One issue is how much is enough and how much is too little? Every household is different and what might seem like a lot for one household is just enough for another. The trick is to determine what is your budget is and how much you have available. If you do that, then you’ll know how you can save from every paycheck. If that means less time dining out or going for a drink with friends, so be it. Maybe one day your budget will allow for all that and more but, for now, you have to adapt to what you’re making.

Another issue is when you spend as much as you make. We all have bills to pay, things to buy (whether we need them or not) and, honestly, we worked for our money, so why not enjoy it? But, as the old saying goes, “pay yourself first.” The money is yours, unless it’s a bill, you decide what to do with it. Even bills that you think are forever, aren’t set in stone. Do you really need to buy the best and brightest smart phone? Or have all those lights on in rooms you don’t use? There are always way to save, we just have to take advantage of them.

The final issue is fear of finances. Not everyone loves to carry on endless conversations about finance and what’s going on in the stock market. If they did, everyone would be a financial advisor or planner. You can’t avoid your finances forever though, and the more you do the worse off you’ll be. Knowing what’s going on in the world of finance and the options you have available in order to save for retirement, can mean the different between successful planning and a shot in the dark.

Retirement planning is stressful but you owe it to yourself to save up for the comfortable retirement you’ve been dreaming of. I think it’s true that saving habits start early. If saving your money isn’t something you learn to do, it might be hard to make it work in the future. If you’re thinking about getting a reverse mortgage, in order to supplement your retirement savings, give PS Financial Services a call at (888) 845-6630 or send us an email at info@PSReverseMortgage.com. There are many options available to you with a reverse mortgage and plenty of ways to use them during retirement. We do not pressure those inquire, we’re simply here to help.