Saving for retirement might seem hard when you have house payments or unexpected medical expenses to account for, but if you want to enjoy your retirement it’s time to start thinking about how you’re going to save for it.
Here’s a breakdown of the average retirement amount by age and options for you to start saving today.
Whether you’re in your twenties or sixties, take a look at the average retirement amount for each age group and learn how to start saving for your retirement.
The best way to start saving for retirement and not worry about finances later in life is to make a budget and open a savings account. There are a variety of savings tools to consider, such as 401(k)s, IRAs, certificates of deposit (CDs) and money market accounts.
Synchrony Bank offers one of the best money market accounts, and is considered one of the best online banks according to GOBankingRates.com.*
Synchrony Bank does not offer financial advice, so be sure to consult with a tax consultant or financial advisor before opening or contributing to an IRA.
Call 844-345-5789 to open an account with Synchrony Bank and learn how we can help you save and surpass the average retirement amount.
*Synchrony Bank was named one of the 10 Best Money Market Accounts, High Yield Savings Accounts, CD Accounts and Online Banks as well as one of 31 Best Banks for 2016. Source: Based on GOBankingRates.com; January 2016 survey.
*ANNUAL PERCENTAGE YIELD (APY): All APYs are accurate as of .
APYs are subject to change at any time without notice. Offers apply to personal accounts only. Fees may reduce earnings. For Money Market and High Yield Savings Accounts, the rate may change after the account is opened. For CDs, a minimum of $2,000 is required to open a CD and must be deposited in a single transaction. A penalty may be imposed for early withdrawals. After maturity, if you choose to roll over your CD, you will earn the base rate of interest in effect at that time. The APY shown for CDs and IRA CDs is for a 60-month CD with a balance of at least $25,000. Click here for all CD rates and terms offered.