Money Matters: How to retire rich

October 27, 2017 01:30

Sponsored by NEFE

Many people dream of retiring rich, or at least being able to step away from full-time work and be able to enjoy retirement in comfort. It's not easy, but it can be done with effort, sticking to a good plan. Many Americans do not have sufficient savings and investments in place, and many more don't have a plan in place to help reach their goals. But by gradually building up a portfolio of savings and investments, most workers can improve their situation and get on a path to a more secure retirement.

As CNN Money outlines, it's important to invest as early and aggressively as you can. Because of the power of interest and of carefully managed investments, the longer you can grow a starting sum of money, the more you'll get in return. They also recommend automating your saving, to ensure a portion of your month income is applied to your future. They suggest managing risks carefully, watching out for high fees for your investments and to stick to a plan.
 
To help your readers/listeners/viewers learn more about how to position themselves financially for retirement, talk with financial planners in your market. They can talk about the basic strategies every worker can use to start building up a nest egg, and explain how different kinds of approaches are best for people at different stages of their lives.

Sponsored by the National Endowment for Financial Education
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Eric Mock of WGXA-TV entered the 2016 NEFE/RTDNA awards contest with a story about auto title loans and how one borrower reacted when his car was repossessed.