(Undated) — Many retirement-age Americans regret two big financial mistakes. Debt expert Ja’Net Adams says most older people realize they didn’t keep enough in their emergency savings and they didn’t save enough for retirement. She said people should pay off debts and invest as much as you can into savings and retirement accounts.
She says companies moved away from pensions in the 80’s to save themselves money, encouraging workers to put money into their 401K account. Adams advises those with a pension to still save in other accounts as well in case the pension account goes bankrupt. Those dependent on Social Security will need to adjust their budget and expect smaller checks in 2025 due to the recent interest rate cuts.
