Today’s article features a retirement Q&A session with Putnam Investments president and chief executive officer, Robert Reynolds. Here’s what Reynolds had to say about the biggest mistake people make when saving for retirement, “Not contributing enough — that’s the magic key. Because when the Pension Protection Act of 2006 came out they said start saving at the 3 percent level and a lot of people said “well, I’m saving at 3 percent — that works.” That’s a big mistake. It said save 3 percent and do automatic escalation. You’ve got to get up to the 10 percent level. And if a company has a match, that really helps.” To read the entire article, CLICK HERE.
