Market volatility and record inflation can be challenging for even the most dedicated savers, but super savers continue to prioritize their long-term savings goals.
With so many Americans under-preparing for retirement, you may be surprised to learn about a percentage of retirement plan participants who regularly save 90% or more of the maximum amount allowed by the IRS or defer 15% or more of their salary into their employer-sponsored retirement plan. [i]
Super savers share the same concerns many of us have – healthcare costs, inflation, and the threat of a recession. However, they consistently evaluate their situation, adjust their spending, and seek opportunities to save more through products such as:
Finding the motivation to get started is unique to each saver, but good savings habits are established through consistency and sticking to the basics. For super savers, this may mean driving older vehicles, owning a modest home, traveling less, or tackling projects and household chores independently instead of hiring work out.
The good news is that almost anyone can be a super saver. Use these tips to get started:
No matter where you are in your savings journey, the financial professionals at AssuredPartners Investment Advisors are ready to help.
[i] Principal Financial Group, “2022 Super Savers Survey”
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