Study: This Easy Move Could Boost Your Retirement Savings by $85,500
If you're struggling to save enough for retirement, you're far from alone. The median amount baby boomers have saved for retirement is just $152,000, according to a report from the Transamerica Center for Retirement Studies. Even if you spend a modest $30,000 per year in retirement, those savings will only last around five years.
The hard truth is that you'll likely need hundreds of thousands of dollars stashed away to last through your golden years. Pensions are a thing of the past for most workers, and Social Security benefits aren't designed to be your sole source of income -- so you're likely going to have to lean heavily on your savings to make ends meet in retirement.
Fortunately, new research shows that one easy move can help you boost your retirement fund by tens of thousands of dollars.
Source Fool.com
