Retirement Savings: Are You Setting Yourself Up For Failure?
Is there a retirement crisis looming? Many experts think so, given that "about 45% -- or 38 million working-age households -- have not started a retirement fund of any kind," according to a May 6 article in the Huffington Post. This disaster-in-the-making can be easily remedied, with some definitive and smart saving. Other than not saving at all, what is the next biggest mistake?
Many Americans fail to diversify their future retirement income. A lack of diversification can be a critical and even devastating misstep. It is important to have a retirement account (typically a 401K), stocks and bonds, and some non-traditional types of collateral, such as a self-directed IRA. Here are some pointers on how to secure loans and future investments from a non-recourse lender: