GOLDEN VALLEY, Minn. — A good plan for retirement is to make sure that you'd be able to sustain your lifestyle using your savings, investments and Social Security benefits.
But many Americans feel that that plan won't work for them.
The U.S. Government Accountability Office reported that nearly half of Americans aged 55 or older have no money in either IRA or 401(k)-style accounts.
The American Association of Retired Persons (AARP) recently conducted a survey that found about 60 percent of people don't believe that the combination of their assets will be enough for retirement.
KARE 11 Sunrise's Lauren Leamanczyk asked NBC "Today" Show contributer and AARP Personal Finance Ambassador Jean Chatzky about the AARP survey and what people could do to feel more secure about their retirement plans.
Q: Is there a difference between women and men when it comes to retirement security?
A: A big difference. About half of all men believe that they’ll have enough for retirement, and only about a third of all women do. And we (women) blame this on the fact that we still earn substantially less than men and that doesn’t give us enough money to save.
Q: What are some tips for making your retirement plan more secure?
A: You want to focus on your social security claiming strategy. We can all end up with more money in retirement if we get smart about Social Security. And often that means making sure we’ve got enough time on our hands so we can delay claiming it.
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