saving and retirement (Photo credit: 401(K) 2013)
Savings rates in America are really not what they should be. Studies have shown that, in order to achieve the goal of replacing 80% of your average pre-retirement income you should be saving at a rate around 17.5%. This doesn’t necessarily mean that 17.5% is the right number for everyone, because pensions and Social Security can help out in replacing some of your income in retirement. But the average savings rate for all Americans is something just south of 5% – so we can definitely do a better job. So make the effort to apply at least 1% more to your savings rate this November. It certainly can’t hurt!
Below is the list of my fellow bloggers who have written articles showing ways that you can start to increase your savings rate, as well as showing what the benefits can be. Thanks to everyone who has participated so far – and watch for more articles in the weeks to come!
1% a Small Number with Big Implications by Roger Wohlner, @rwohlner
The Journey of $1 Million Dollars Begins with 1% by Richard Feight, @RFeight
Give Yourself A Raise by Ben Rugg, @BRRCPA
The 1 Percent Solution by John Davis, @MentorCapitalMg
Friday Financial Tidbit-What increasing your retirement contributions 1% can do for your retirement account by Jonathan White, @JWFinCoaching
THE 1% MORE BLOGGING PROJECT by Robert Flach, @rdftaxpro
A Simple Strategy to Maximize Open Enrollment by Jacob Kuebler, @Jakekuebler
Take a Small Step: Increase Your Savings by 1% by Jim Blankenship, @BlankenshipFP
Sterling Raskie, MSFS, CFP®, ChFC®
The latest in our Owner’s Manual series, A 401(k) Owner’s Manual, was published in January 2020 and is available on 
A Medicare Owner’s Manual, is updated with 2020 facts and figures. This manual is available on 
Social Security for the Suddenly Single can be found on Amazon at 
Sterling’s first book, Lose Weight Save Money, can be 
An IRA Owner’s Manual, 2nd Edition is available for purchase on Amazon. Click the link to choose the 
Jim’s book – A Social Security Owner’s Manual, is now available on Amazon. Click this link for the 
And if you’ve come here to learn about queuing waterfowl, I apologize for the confusion. You may want to discuss your question with Lester, my loyal watchduck and self-proclaimed “advisor’s advisor”.