OVERCOME RETIREMENT OBSTACLES

Most likely, you'll encounter setbacks on your journey. But with careful planning, you can surmount them.

- SANDRA BLOCK

IF you’ve ever embarked on a big undertaking, whether it’s run­ ning a marathon or cleaning out your garage, you have probably encountered impediments that delayed or derailed your progress.

Some—a knee injury, for example— are significant. Others are more accurately characterized as excuses; you’re not sure what to do with those old cans of paint, so you decide to watch Netflix instead.

Similarly, you’ll likely face barriers and detours on the road to a com­ fortable retirement. According to a recent Charles Schwab survey of 401(k) participants, 99% of Genera­ tion Z workers say they face obstacles in saving for retirement (up nine per­ centage points from a year earlier), followed by 88% of millennials and 91% of Gen Xers. But whether you are just starting your career or ap­ proaching the end of your working years, there are strategies you can adopt to navigate your way to a secure retirement.

OBSTACLE: No room in the budget to save