Meet Ned
Age: 54
Salary: N/A
Employment: N/A
Ned’s main concerns, in his own words:
I was married until 2005 and had very little saved in my 401k. I had a pension at that time and it was automatic. Since then I have worked to maximize my savings. I moved to a new job and when I did was forced to take action on my pension. I rolled it into my 401k. Since then it has grown. I struggle with knowing how much to save for retirement. I really have no idea how much to save. My old 401k is through Fidelity and I have tried using their services to understand how to invest my money. I asked for info on how to invest but they said they were limited. Their solution is to roll the money out and let them manage it for a “fee”. I am saving in a new 401k now but still worry about my projected retirement. I would like to retire at 62, just 8 years away but am uncertain that the money will mature quickly enough to keep my financial boat going through my retirement years.
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Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.