Thinking About Pausing Retirement Contributions? Don’t

While some Americans are feeling more confident about their ability to achieve a comfortable retirement, and the number of 401(k) millionaires is surging because of a booming stock market, that optimism might not be uniform across all earners.

A recent survey found that nearly half of middle-class families are scaling back their retirement plan contributions. Primerica’s findings, published this month, indicate that 46% of middle-income households have reduced or completely stopped putting money into their retirement accounts. Two-thirds of that same demographic said “their education did not adequately prepare them to manage their finances as adults.”

But pausing those contributions — even briefly — can reduce the effectiveness of compound interest, which can result in potentially missing out on tens of thousands of dollars your nest egg would otherwise amass. Instead, using our insights and advice can help you get your personal finances on firm ground and help ensure your retirement savings aren’t disrupted.

— Jordan Chussler, investing and banking editor

The number of homeowners who spend more than the recommended 30% of their income on housing and utilities rose to an all-time high of 19.7 million in 2022, which is an increase of 3 million from 2019, according to a new analysis from the Harvard Joint Center for Housing Studies. Money reporter Pete Grieve writes that 9 million homeowners spend more than 50% of their income on housing costs: a figure that underscores the massive affordability crisis happening in housing right now.

Protecting your retirement from market volatility and inflation is essential. A Gold IRA can offer stability during economic uncertainty, safeguarding your wealth for the future. With some experts predicting gold's increase in value this year, now could be the ideal moment to diversify your portfolio. Prepare for a brighter tomorrow by incorporating gold into your retirement plan today.

View our list of top-rated Gold IRA providers and fortify your retirement strategy today.

The information provided in this email is for educational purposes only and is not intended as investment or financial advice.

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