According to a survey from the Teachers Insurance and Annuity Association of America (TIAA) Institute, 13% of Americans say they are unsure of how to fund their retirement. Furthermore, study results from Vanguard showed that investors who started saving for retirement at 25 saving 9% of their salary annually with moderate allocations, finished with 13% more than by contributing 6% in an aggressively-invested account.
Lenox Advisors Senior Vice President Abbe Large joins Yahoo Finance to give insight into some of the best ways younger investors can prepare and strategize for retirement.
Large comments on easy ways for investors to save: "I can't stress enough that inflation is truly one of those systematic risks that you can't diversify away from. But what you can make sure you understand is your budget. Your inflows and outflows and not let lifestyle creep overcome that. There are small things that you can do to save money. Meal prepping is a very small example of being mindful of how much it is to buy lunch instead. Another tip is to take advantage of the Affordable Care Act. I don't know if people know this, but parents can keep their children on their family health plan until they turn 26. "
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