Saving money is a big goal for all of us. So in a single-parent family, when one parent bears the responsibility of raising kids and making financial ends meet, saving for something like your own retirement might be further down the priority list compared to your other financial goals.
Financial literacy is essential for daily life. And yet, many parents are intimidated to talk about money with their children, while others may be eager to cover basic concepts but aren’t sure when or where to begin.
Most of us could improve our financial lives and could use a little help. Saving for retirement is no different. Gone are the days of secured retirement as more employers are phasing out of traditional pensions and replacing with the 401(k).1
A clear understanding of personal expenditures and savings rates is essential for securing a strong financial future. A financial plan can help everyone from the extraordinarily wealthy to those struggling to make ends meet.
Getting to where you want to go will depend on the choices you make today. While we know you are likely doing what you can now to save, you have many priorities competing for your money. Taking the appropriate steps now may help set you up for a better financial situation later.