retirement

8 ways to accelerate retirement savings

Get a coach
Next
3 of 8
Back
Get a coach

A good financial adviser can help you assess your retirement income goal and create a plan to achieve it. Along with the many clients Pamela Kiernan encounters who haven't even attempted to calculate a number, she sees others who have such a huge figure in mind that it seems out of reach.

"They think they have to have 5 or 6 or 10 million dollars in order to retire, yet they have (only) $150,000 to $300,000. But the mere thought of making up the shortfall is so intimidating to them … that they don't know what to do," says Kiernan, a Certified Financial Planner with Merrill Lynch in Stamford, Conn.

According to Sampson, the accountability factor is a major benefit of working with a pro. "It's almost like an athlete (who) has to have a trainer," he says.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
MORTGAGE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed 4.06%  0.22 4.28%
15 year fixed 3.17%  0.07 3.24%
5/1 ARM 3.52%  0.11 3.41%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.36% --0.00 4.36%
50K FICO-based HELOC 4.06% --0.00 4.06%
100K FICO-based HELOC 3.91% --0.00 3.91%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.79%  0.10 2.69%
48 month used car loan 2.98%  0.06 2.92%
60 month new car loan 3.23%  0.04 3.19%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.94%  0.01 0.93%
2 Year CD 1.13% --0.00 1.13%
5 Year CD 1.76%  0.00 1.76%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.77%  0.06 15.71%
Cash Back Cards 16.44%  0.03 16.41%
Low Interest Cards 10.96%  0.10 10.86%
 
Next
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Blog

Jennie Phipps

Work less — ‘It’s a better life’

Retirement actuary Steve Vernon says working less while delaying Social Security is the best way to retire.  ... Read more

advertisement
Partner Center
advertisement

Connect with us