Retirement savings

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for

Which bank should I choose?

Get personalized bank recommendations in 3 easy steps.

Q:

How does the amount you are contributing in 2011 to retirement savings accounts, such as 401(k)s and IRAs, compare to what you contributed last year?

Jim Wright

"We encourage people to formulate a plan and stick with it."

When saving for retirement, consistency is important. It is a bit disconcerting to see so many people not saving or cutting back. This is certainly partly a function of the economic environment and ... could also be related to fears about the stock market given the meltdown in 2008, the flash crash in 2010 and the recent wild market swings. When investing for retirement, investors have to take a long-term view. As you get closer to retirement, look for opportunities to adopt a more conservative asset allocation.

- Jim Wright, chief investment officer, Harvest Financial Partners in Paoli, Pa.

Financial fix-its

« Back to the Financial Security Index poll.