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3 signs you won’t be ready to retire in 30 years, according to a financial planner

3 signs you won’t be ready to retire in 30 years, according to a financial planner



Ruobing Su/Business Insider


© Ruobing Su/Business Insider
Ruobing Su/Business Insider



a man wearing a suit and tie smiling at the camera: Financial planner Jovan Johnson. Courtesy of Jovan Johnson


© Courtesy of Jovan Johnson
Financial planner Jovan Johnson. Courtesy of Jovan Johnson

  • Even if you have 30 or more years before retirement, it’s possible that there are already some signs you won’t be ready.
  • If you haven’t started using your employer’s 401(k), or are still making the same contribution you started making several years ago, you might need to make a change to get on track. 
  • Similarly, if you find that your retirement income will be significantly less than what you’re currently earning, it’s worth adjusting your savings strategy now to maintain your lifestyle in the future.
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While it can be tough to think 30 years into the future, it’s necessary for retirement planning. It takes years of saving, investing, and growth for retirement planning to work effectively and build a large enough savings to live well in retirement.

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There’s no set age to start thinking about retirement planning, but experts agree that the sooner you start, the better. Not only will your money grow more, but you’ll also have less stress later on.

For that reason, thinking 30 years into the future is essential. Financial planner Jovan Johnson of Piece of Wealth Planning says that there are a few signs you’ll want to watch out for on you savings journey — they might mean that you won’t have enough savings for a comfortable retirement. 

You haven’t started using your workplace’s 401(k), or haven’t updated it recently

If your employer offers a 401(k), it’s definitely something to take advantage of sooner rather than later. These retirement accounts allows contributions pre-tax, which lowers your total taxable income. These accounts can also sometimes come with a match, where an employer will essentially

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