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    Why We Don't Save Enough for Retirement and How You Can Save More
    Why We Don't Save Enough for Retirement and How You Can Save More
    Why We Don't Save Enough for Retirement and How You Can Save More
    Ebook36 pages19 minutes

    Why We Don't Save Enough for Retirement and How You Can Save More

    By Dale Maley

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    About this ebook

    Many Americans are struggling with how to save more for retirement. This short story explores several methods for saving more for retirement.

    LanguageEnglish
    PublisherDale Maley
    Release dateJul 11, 2010
    ISBN9781452377643
    Why We Don't Save Enough for Retirement and How You Can Save More
    Author

    Dale Maley

    Dale C. Maley is the author of the 19999 book Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pros.He is also a contributing author to Chapter 18 Seeking Help from Professionals in the 2009 book The Bogleheads Guide to Retirement Planning.He is a very successful private investor who has been a student of Financial Planning and Investing for over 30 years. He was trained as an engineer at the University of Illinois and has been a practicing engineer for 32 years. His accomplishments as an engineer include the granting of 16 U.S. Patents and authorship of over 500 professional technical papers. He is also a member of the International Society of Automotive Engineers and the Society of Manufacturing Engineers.He also has earned an MBA (Masters Degree in Business Administration) degree from Illinois State University. His background in mathematics, engineering, and business provides him with the excellent basis for understanding and teaching investments and financial planning.He is also a very successful investor who has been investing in common stocks and mutual funds since 1980. He has also personally invested in both 401(K) and IRA plans, so he is familiar with participation and management of these types of investments. He has been investing in indexed common stock mutual funds since 1990.Dale became a Registered Financial Advisor in the State of Illinois in 2006 and is currently launching his business as a fee-only financial planner. He is President of Maley Financial Planning LLC.

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      Book preview

      Why We Don't Save Enough for Retirement and How You Can Save More - Dale Maley

      Why We Don’t Save Enough for Retirement and How You Can Save More

      by

      Dale C. Maley

      SMASHWORDS EDITION

      * * * * *

      PUBLISHED BY:

      Artephius Publishing on Smashwords

      Why We Don’t Save Enough for Retirement and How You Can Save More

      Copyright © 2008 by Dale C. Maley

      All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording, or otherwise) without the prior written permission of both the copyright owner and the above publisher of this book.

      Q: What areas of investing have you been exploring since the publication of your book Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pros?

      A: The last few years I have been exploring why people don’t save enough for retirement. I have found this area of personal finance to have many fascinating theories why people don’t save and invest. I have also found some proven techniques for people to use to increase their savings rate.

      Q: How much money is required to retire and are Baby Boomers saving enough to retire?

      A: How much money is required to retire is a function of many variables. A partial list of these variables includes desired retirement income level, net worth, Social Security income, and defined benefit pension plan income.

      Just to give an order of magnitude to how much money is required to retire, let’s look at the case of a Baby Boomer couple earning a household income of $100,000. Most financial planners suggest the rule-of-thumb that you need 80% of your pre-retirement income during retirement.¹ This couple

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