Yowza. We have a retirement savings problem

by Michael Tarsala

We really do have a savings problem in the U.S.

A fresh survey from the trade group LIMRA says 49% of Americans are saving nothing for retirement in either an IRA or 401k.

The stats are even worse for the younger generation.

Then you look at the latest from Fidelity Investments: A 65-year-old couple will need about $240,000 to cover medical expenses during retirement. Even if you own a home, you still have to eat, get around, pay property taxes and utilities -- it all adds up!

The good and bad news is that people are living longer – another reason only a little more than half of Americans feel financially prepared to live even to age 75.

What can you do?

• Start by reading these 7 tips from Kiplinger's Susan Garland on making it to retirement age securely.
• And this – about Covesting with an IRA Rollover.

We at Covestor have experienced retirement account managers with IRA-suitable models.

An IRA is a great way to give Covesting a try. We'll match the actions of your chosen manager in your account, trade for trade. And we can help you spread your risk across different strategies and find a solution with low minimums and fees.

Call us. We like to talk, and are here to help.

Covestor Ltd. is a registered investment advisor. Covestor licenses investment strategies from its Model Managers to establish investment models. The commentary here is provided as general and impersonal information and should not be construed as recommendations or advice. Information from Model Managers and third-party sources deemed to be reliable but not guaranteed. Past performance is no guarantee of future results. Transaction histories for Covestor models available upon request. Additional important disclosures available at http://site.covestor.com/help/disclosures. For information about Covestor and its services, go to http://covestor.com or contact Covestor Client Services at (866) 825-3005, x703.