The Fundamentals of Saving For Retirement with Sarah Holden

Your Wealth & Beyond

Most people are better at planning a vacation than they are planning for retirement. People think of it as something far off that they ignore for years or decades. They make major mistakes, choose products that don’t suit their needs or meet their goals, or fail to take advantage of the opportunities provided to them.

Sarah Holden understands well why this happens. She worked at the Federal Reserve Board, where she analyzed the US retirement system and studied the retirement market. She now is at the Investment Company Institute, where she is focused on researching what people do at the beginning and ends of their careers as they plan for and transition into retirement.

Today, Sarah joins the podcast to talk about how to turn the daunting prospect of planning for retirement into a multi-step process, the important questions you should be asking your financial advisor at every stage of your career, and the three keys to success when it comes to saving for retirement.

In this podcast interview, you’ll learn:

• The major mistakes people make when they think about or plan for retirement.
• Why employers shifted from pensions to 401(k)s in the late 70s and early 80s - and how this changed retirement investing.
• How young investors can maximize their tax benefits at the beginning of their careers.
• How the CARES Act and SECURE Act have impacted retirement planning.
• Why the HSA is such a great vehicle for retirement savings.

Interview Resources

• Investment Company Institute
• Retirement Plans, Benefits, and Savings from the Department of Labor
• Investor Page from The Securities and Exchange Commission
• Internal Revenue Services