Americans' Top 3 Financial Concerns -- and How to Deal With Them
How much time do you spend stressing out about finances? Would it help to know that you're not alone in your top concerns? It turns out that Americans have a number of pressing financial worries, and here are the ones that top their list, according to a new Charles Schwab study.
For 44% of Americans, amassing enough retirement savings is a huge point of concern. Your best bet in that regard, therefore, is to save consistently from an early age and invest your savings wisely. That way, you'll be more likely to meet your goals.
Imagine you're 35 and retirement is 30 years away. If you were to set aside $500 a month during that time and invest your savings heavily in stocks, you'd likely wind up with around $567,000 in your IRA or 401(k). That assumes a 7% average annual return on investment, which is doable with a stock-heavy portfolio, since it's a few percentage points below the market's average.
Source Fool.com
