Contact Us
Make My Homepage

Are You Saving Enough for Retirement? [AUDIO]

As the economy continues its slow-motion recovery, many Garden State residents are using their entire salaries for day-to-day expenses, and ignoring saving for retirement.

Flickr User 401k

Financial experts do not think this is a very good idea.

“People should be saving at least 10 to 15 percent of their money, and I think it’s most important that people use their qualified plans, their 401 K’s, the 403 B’s as well as Roth IRA’s,” said President and CEO of Ventura Wealth Management, Nick Ventura.

He pointed out that, all too often, participation rates in retirement plans are low.

“And that should be the first go-to place for your retirement savings because that’s tax-sheltered,” Ventura explained.

Ventura also stressed while some people think it’s probably too late to move money into the stock market, that’s not necessarily true.

“Even though the stock market has gone up substantially, it has still not reached a point of being over-valued,” he said. “We continue to promote both balanced funds and equity funds for retirement holdings, but do make sure you hold them in the right account.”

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Best of NJ101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.