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Secure Your Retirement: Tips for Financial Stability

Secure Your Retirement: Tips for Financial Stability

Many senior citizens find that an average monthly payment of $1,900 isn't enough for a comfortable retirement. To secure their financial future, workers often rely on employer-sponsored 401(k) plans, which allow them to contribute a portion of their salary for retirement. Understanding retirement expenses is crucial; experts suggest retirees need about 65% of their pre-retirement salary. For example, if someone earns $100,000 a year, they would need $65,000 annually after retirement. O’Leary emphasizes budgeting, reducing debt, and realistic planning to enjoy a fulfilling retirement without unnecessary expenses.

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