The Money Show’s Bruce Whitfield interviewed Jeanette Marias, Director of Distribution and Client Service at Allan Gray, who shares five tips for those who started late with saving for retirement.
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The biggest problem is when people leave jobs without preserving their retirement savings.— Jeanette Marias
If you start at 40 you have to save 40% of your income in order to make up for lost time.— Jeanette Marias
Delaying retirement by five years will make a huge difference.— Jeanette Marias
Do not be too conservative! You must have equity exposure.— Jeanette Marias
Merely putting your money in the bank guarantees the loss of buying power.— Jeanette Marias
This article first appeared on 702 : How to save for retirement when you’ve left it late