In the
Media

The weather continues to warm and days are getting longer as summer approaches. And, while the season is generally time for fun, this summer, it’s important to think about your financial stability. 

June is officially in full swing. With the start of summer just weeks away, the weather outside is becoming more inviting for many. But, June isn’t just a good time to enjoy the outdoors with your children or go on a nice hike through the woods. It’s also a good time to think about your savings and moves you can make to build upon the money you’ve set aside, particularly in today’s unique climate marked by stubborn inflation and elevated interest rates.

One in four Americans have no retirement savings. Austin Kilgore, a consumer finance expert with the Achieve Center for Consumer Insights, a digital personal finance think tank, said our grocery cart is one place where we can bridge the money gap. Food expenses take up an average of $6,490, or 12.4% of annual expenses for many retirees. 

For those hoping to become wealthy, a job with a high salary would seem to be a big step in the right direction. However, high income alone doesn’t guarantee a high net worth, and a growing number of high earners say they don’t see themselves as wealthy. Advisors call this group HENRYs: “High Earners, Not Rich Yet.”