A retirement fund
The average Social Security retirement benefit currently stands at $1,422 per month, according to the Social Security Administration. That’s just over $17,000 per year. So, make sure you have another source of income for your golden years. Your first stop for retirement savings should be a 401(k) plan if your employer provides a match of any kind. After that, look for a tax-sheltered plan such as an individual retirement account.
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