5 Fast Ways to Turbocharge Your Retirement Savings

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Editor’s Note: This episode initially aired on November 10, 2022. It may contain some details that are out of date.

Let’s start with a question: Do you have enough in your retirement account? According to a recent report from Vanguard, the average American has around $140,000 saved for retirement. For those 65 and older, that average balance is about twice that, or $280,000.

Sounds like a lot, right? But for many people, even with Social Security, it’s not going to be enough.

If that’s you, let’s fix it. In this podcast, we help you create a plan to beef up those retirement savings.

As usual, host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. This week’s guest is a friend of the show, Joe Saul-Sehy from Stacking Benjamins.

Remember, even though we sometimes talk about money and specific investments, never take them as recommendations. Before investing in anything or making any other money moves, do your own research and make your own decisions.

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Don’t forget to check out our podcast page for more episodes designed to help you make the most of your money and our YouTube page for more videos.

Are you ready for retirement?

The Employee Benefit Research Institute points out that 7 in 10 workers are confident they can retire comfortably. In this show, we talk about the potential disconnect between what you might think is enough and what’s actually enough. Here are some articles that can help.

How to create a retirement plan that works for you

Stacy mentions his book “Life or Debt,” as a good starting point to help you figure out what you want out of life—and how to prioritize it. Joe and Miranda also have some good ideas for creating a retirement plan you’ll stick with. We also mention our podcast on paying off your mortgage aggressively so you have more money available in retirement.

Let’s take a look at some great Money Talks News resources about planning for retirement.

Meet this week’s guest, Joe Saul-Sehy

Joe Saul-Sehy / Money Talks News

Joe is a former financial adviser (16 years) and represented American Express and Ameriprise Financial in the media. He was the “Money Man” at Detroit television station WXYZ-TV, appearing on air twice weekly. He’s appeared in Bride, Best Life, and Child magazines, and in the Los Angeles Times, Chicago Sun-Times, Detroit News and Baltimore Sun newspapers. He’s also appeared online in more than 200 different places, including CNBC.com and WSJ.com.

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About the hosts

Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.

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