Steve Vernon summarized the result of Vanguard’s report: “How America Saves 2014” and offers advice. “First, Social Security alone won't fund a comfortable retirement. You'll need to save anywhere from 12 to 15 percent of your pay -- consistently -- for 25 years or more if you want a shot at a comfortable retirement in your mid-sixties. You'll also want to keep that money invested for retirement and resist the temptation to take a loan or early distribution from it.
You should do whatever it takes to use a disciplined investing approach, which means trying to resist fear and greed. Don't pull out of the market during market downturns, and don't load up on stocks after a market run-up. Professional management with target date or balanced funds is one way for ordinary workers to achieve this discipline.
Finally, you need to learn about the various methods available to deploy your savings to generate a retirement paycheck. You'll want to learn how to make your money last, no matter how long you live or what happens in the stock market.
The bottom line is that you're the person who cares the most about your retirement security. Some employers are willing to help by sponsoring their retirement plans, but it's up to you to take advantage of these benefits.” Read Vernon’s summary of the Vanguard report at: http://www.cbsnews.com/news/retirement-5-key-facts-about-how-to-save/
5 Ways to Boost Retirement Savings
![5 Ways to Boost Retirement Savings]()
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