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Have You Ever Wondered: “Am I really saving enough for retirement?”

Posted on July 19, 2022

CWMGinvestretirementsavings

Do you wonder how your retirement savings compare with others your age?

  • The average person in their twenties has around $16,000 in retirement savings.
  • The average person in their thirties has saved about $45,000.
  • Americans in their forties have median retirement savings of around $63,000.
  • Americans in their fifties have median retirement savings of about $117,000.
  • Americans in their sixties have median retirement savings of approximately $172,000.

You may have saved much more – but have you really saved enough?

You may need to save more for retirement than you realize. It is very common for people to underestimate their retirement savings and retirement income needs. Whether you are 5 years or 35 years away from retiring, you need to be confident that you are doing the right things for your financial future – saving enough, investing what you save in a way that is appropriate for you, and managing risks to your savings.

Now is a great time to check and see if you are on track toward your retirement savings goal. Ask about setting an appointment with one of our Citizens Wealth Management financial advisors at any of our CNB offices so that we may quickly review how you are doing so far. If anything about your retirement saving or investing strategy needs adjusting, it is better to plan those adjustments now than to regret not making them later. Call 419-358-8060 ext. 153 or email cwmg@lpl.com to make an appointment.

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Check the background of your financial professional on FINRA’s BrokerCheck.

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Citizens National Bank and Citizens Wealth Management Group are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Citizens Wealth Management Group, and may also be employees of Citizens National Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Citizens National Bank or Citizens Wealth Management Group. Securities and insurance offered through LPL or its affiliates are:

Not Insured by FDIC or Any Other Government Agency Not Bank Guaranteed Not Bank Deposits or Obligations May Lose Value

The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: Registered for Securities in the following states: AL, AZ, CA, CO, DE, FL, HI, IL, IN, KY, MD, MI, MO, NC, NJ, NM, NV, NY, OH, PA, SC, SD, TX, VA, WA, WI, and WV.

Your Bank (Citizens National Bank) provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for advisory services. Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html.