If you\u2019re having trouble saving for your golden years, you\u2019re not alone.\u00a0<\/p>\n
A new report from the National Institute on Retirement Security says the average American worker has less than $1,000 saved for retirement.<\/p>\n
RELATED: Money Minute: Retire right<\/a>\u00a0<\/p>\n Kyle Moore, financial planner at Quarry Hill Advisors in St. Paul, says to look for small ways to start saving, like if you have a 401(k) at your job.<\/p>\n \u201cEspecially just taking advantage of your employer match,\u201d Moore said.<\/p>\n \u201cIf you compound that over the course of your career, 30 years, 40 years, it can turn into substantial money,\u201d he said, adding, \u201cIf you have a little bit of money to invest, there\u2019s a lot of companies like Fidelity, Vanguard, or Schwab. You can open a small account with [it] and you can get started. Roth IRA\u2019s are [a] very powerful vehicle because your money will grow tax-free and that means it will come out tax-free in retirement.\u201d<\/p>\n The rule of thumb is that people should have retirement savings equal to one year of their annual income by age 30. By the age of 60, people should have eight times their income socked away for their golden years.<\/p>\n RELATED: Want to save money this year? Here\u2019s advice from a local expert<\/a><\/p>\n \t\t\t\t\t\t\t\tFor Related Stories:\u00a0Joe Mazan<\/a>\u00a0\u00a0Money Matters<\/a>\u00a0\u00a0Retirement<\/a>\u00a0\u00a0Saving<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"If you\u2019re having trouble saving for your golden years, you\u2019re not alone.\u00a0 A new report from the National…\n","protected":false},"author":2,"featured_media":283161,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[114,268,85,46,94679,1875,266,267,688,930],"class_list":{"0":"post-283160","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-il","11":"tag-israel","12":"tag-joe-mazan","13":"tag-money-matters","14":"tag-personal-finance","15":"tag-personalfinance","16":"tag-retirement","17":"tag-saving"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/283160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=283160"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/283160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/283161"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=283160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=283160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=283160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}