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How to save money for your retirement

Posted at 8:33 AM, Jan 25, 2018
and last updated 2018-01-25 08:33:29-05

LEE COUNTY, Fla.-- A new report from New WalletHub says Florida is the best place to retire in 2018.

James Gallagher of Waterstone Financial has some retirement planning tips for you.

He says people have a hard time talking about retirement savings because it's so much money. A rule of thumb is you need to save 10 times more than your income. Also, save 10% of your income in 401K's and savings accounts.

Gallagher says to put your plan on paper; only 1 in 4 people have a written plan. There are also computer programs that let you visualize your plan, but the best way is to work with a financial expert, or coach.

You can get motivated by setting up your goals and then sticking to them, although it may be hard. If you are in need of financial advice, go to Waterstone Financial