[TRANSCRIPT]

Rosina Switras

Everyone thinks about the day that they will retire… but will you have enough saved? Experts advise that retirement income should equal 70 percent of what your current income is now. According to Bankrate.com, only three states, including Hawaii, South Carolina, and Alaska have seniors who meet this recommendation.

Why are people saving for retirement in these states successful? Its due in large part to solid pension programs among government workers and low costs of living in South Carolina and Alaska. Union membership also accounts for some of the higher wages being paid.

Financial experts still say the best way to plan for retirement is the tried and true methods of taking advantage of individual retirement accounts offered through an employer, and to get in the habit of putting money aside out of your paycheck every week.
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I’m Rosina Switras, thank you for watching and we’ll see you tomorrow.