Finance & Enjoyment Blog

Denver CPA: Retirement Confidence Increasing

Saving for retirement has always been a hot topic. As personal wealth management consultants for many of our clients, we get a lot of retirement questions: How much do I need to save? Another popular question is: Where should I invest my money? Saving for retirement has been a frequent subject of conversation for years. Your Denver CPA Firm has some good news for you: Studies have shown that retirement confidence is increasing.

According to a survey released in April by the Employee Benefit Research Institute, retirement confidence has rebounded from its all-time lows of the past five years. This increase can be attributed to both higher-income individuals and those who invest in retirement accounts, including employer-sponsored plans and individual retirement accounts.

Worker confidence in the ability to afford a retirement plan has also increased. This correlates with the fact that there has been an increase in workers’ confidence in their ability to pay for basic expenses. However, studies show that the number one reason why the majority of workers (53%) do not save (or save more) for retirement is the cost of living expenses that they face on a monthly basis.

Still only 18% of the population is now very confident they will have enough money to live comfortably throughout their retirement years. That number is low, but it’s an increase from the 13% measured in 2013.

Retirement confidence is strongly related to retirement plan participation or steady contributions to an IRA. Our personal wealth management team at KKB can help you plan for retirement. We can help you grow your wealth and discover new income and revenue sources that will get you on the right path towards feeling better about the next chapter in your life.

How to use this Information

Don’t get caught thinking about your retirement plan – do something about it! KKB can help with our team of personal wealth management professionals. Contact us today at 303-815-1100 and let us show you how you tax accountant Denver firm can help you take the next step to the retirement that you want.

How are you saving for retirement?

Posted in Retirement and Exit Strategies »

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