How Can I Fund My Retirement Account?


Whether you have been a member of the workforce for decades or you’re a young adult who is just beginning their career, it’s a good idea to have one eye on your retirement. After all, once your working days are over, it’s important that you can maintain your standard of living while enjoying the free time associated with no longer working. While your employer may offer a retirement plan, there are other ways to fund your retirement to ensure that you are able to relax later in your life.

According to studies published by Magnify Money, many Americans are not in a good place concerning their retirement. Consider some of these statistics:
• The average American believes they need $1.9 million to comfortably retire
• Only 51% of American families have at least one retirement account
• The median retirement account had $65,000 in it in 2019
• 80% of Americans lack basic retirement planning skills
• 71% of Americans age 71 and over fear that their social security will run out

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