“Retirement Security”… the phrase may bring up a lot of questions. Such as –
- What does it mean?
- How do I get it?
- Does anybody really feel “secure” in retirement?
In today’s economy, retirement security can seem rather elusive to some. So we’ve created a very easy to understand video that explains it well. It starts by showing the old rule that you must save 10% of your income to have a secure retirement. But that is nowhere near close to the amount you need. In order to maintain your standard of living and have a quality retirement you need $20 for every $1 of income earned in your lifetime. It’s called the “Rule of 20.” This rule is a good threshold, but how do you get there?
Enter the old 3-Legged Stool of Retirement Security. Social Security, a strong pension like LAGERS, and other savings and investments each make up a leg of the stool. The three work together to create a lifetime of retirement security for you. Don’t take one of the legs away, or your stool becomes wobbly and unstable. Nobody wants a wobbly, unstable retirement!
Watch the video here to learn more.