On this week’s P&B Money Minute we discuss how to save 1x your income by age 30 and 3x by age 40 using a few automated tools we recommend. Marcus reveals why he finally logged back into his retirement accounts after a 12-month hiatus and the three step process you can follow to potentially increase your retirement savings without impacting your takehome pay. Plus, the automated tools you can use to make retirement savings easy. On this show we’ll explain:

  • Maximizing your tax cut to supersize your annual IRA/401k savings
  • How one change in how you invest in your 401k combined with an employer-match might net you up to $70,000 by retirement
  • Why Investor.gov has become our new fav tool for quickly estimating FI/RE, compound interest, and retirement savings goals
  • The pros/cons of investing in a Retirement Target Date Fund versus an Index Fund
  • Why compound interest on savings from ages 20-40 might have more impact on your retirement than your contributions from ages 40-60

References Mentioned in this Show

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