This week, we’re listing some tips to improve retirement readiness, cut costs at your home or apartment, and showing 20-somethings ways to take control of their debt. Here’s what you need to know:

  • Retirement planning is just around the corner for baby boomers, but according to a Merrill Edge survey, Gen Xers are the most concerned about retirement. As Forbes points out, the U.S. Census Bureau claims that people between the ages of 35 and 44 lost 59 percent  of their net worth during the last economic downturn, followed by those under 35, who experienced a 37 percent loss. Despite the report, Molly Triffin of Forbes suggests rolling old 401(k)s into a current plan, running retirement numbers through a retirement calculator, and adjusting monthly contributions to boost retirement readiness.*
  • Did you know that many of the costly money mistakes made around your home or apartment are avoidable? According to Niccole Schreck of US News and World Report homeowners can cut monthly costs by eliminating cable TV subscriptions, buying used furniture, fixing water leaks, switching to energy-efficient bulbs and frequently inspecting for termites and pests.
  • Life in your 20s is chaotic – while looking for a stable career, you’re balancing responsibilities, making lifestyle choices and mistakes along the way. Richard Feloni of Business Insider shares 15 hard lessons everyone should learn in their 20s. His brutally honest lessons cover relationships, job security and the most paralyzing for young professionals, debt.  Feloni suggests that prioritizing your spending to get rid of debt is one of the top things 20-somethings should achieve sooner than later.

*All retirement planning information provided in this blog post is intended as a convenient source of information. This information is general in nature, is not complete, and may not apply to your specific situation. Please consult with your own tax advisor regarding your specific retirement needs.

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