Ad-free. Influence-free. Powered by consumers.
Skip to Main ContentThe payment for your account couldn't be processed or you've canceled your account with us.
Re-activateA reader of our Money Adviser newsletter took us to task last week. Our "Ask the Adviser" page had answered a question from a reader who wanted to know if he could avoid taking required distributions from his 403(b) plan. He calculated them at roughly $113,000 a year—a happy hardship if there ever was one.
Why, the complaining reader wrote, were we wasting space on that guy's "problem" when many Americans have no retirement savings at all?
The easy answer is because he asked us. But the complainer still had a point. What advice would we have for people in that more serious predicament?
Well, life being what it is, many of us will go through a rough patch or two (job loss, health problems, whatever) when saving for retirement becomes all but impossible. The last thing we need is a finger-wagging lecture about mending our wasteful ways.
But when we're in a position to save, it's a good idea to do so. And the best way I know is the obvious one: Spend less than you take in, invest the difference, and then don't mess with it.
Our Web site has lots of tips on saving more by spending less, most recently this article.
Next week I'll pull together some additional suggestions on saving for retirement. Meanwhile, we'd love to hear about strategies that have worked for you. Just click on Comments, below. All we ask is, no finger wagging, please. —Greg Daugherty
Greg writes the "Retirement Guy" column each month in the Consumer Reports Money Adviser newsletter.
Build & Buy Car Buying Service
Save thousands off MSRP with upfront dealer pricing information and a transparent car buying experience.
Get Ratings on the go and compare
while you shop
