Summerlin Benefits Consulting Q&AAnswer
Oct 23, 2024 - 11:56 AM
udgeting helps set retirement savings goals by providing a clear view of your income and expenses, allowing you to identify areas where you can save more. A written budget holds you accountable and ensures regular contributions toward retirement. It helps you adjust saving strategies, like maximizing contributions to retirement accounts (401(k)s or IRAs) or making catch-up contributions if you're over 50. Estimating future income sources, such as Social Security, also aids in setting realistic goals for retirement savings.
