Saving for retirement is never easy, but as costs continue to rise, you may need to save more than ever. The average worker expects to need around $1.7 million to retire comfortably, according to a 2022 survey from Charles Schwab. Yet the median retirement account balance as of 2021 is only around $35,000, Vanguard found.

While there's not necessarily a right or wrong way to prepare for retirement, there are some strategies that work better than others. Unfortunately, there are also three common ways many people may be inadvertently hurting their long-term saving potential.

Image source: Getty Images.

Continue reading

Source Fool.com