Retirement Savings Plan Omaha

January 31, 2025 at 06:15 AM EST

Originally Posted On: https://www.revgroupllc.com/retirement-savings-plan-omaha

Is Your Retirement Savings Plan on Track? Expert Tips from Omaha’s Trusted Wealth Advisors at Revolution Group

Planning for a financially secure retirement can feel overwhelming, especially when you’re unsure whether your savings are on track. Concerns about running out of money in retirement are common, with research showing that one in five Americans over 50 has no retirement savings at all.¹

At Revolution Group, headquartered in Omaha, Nebraska, we help clients across the country take control of their financial futures. Founded by Ryan Fleischer, our firm is rooted in the principles of innovation, trust, and transparency. We deliver family-office-level wealth management services through a Real Fiduciary Standard, ensuring that your goals and interests always come first.

Whether you’re building a plan to retire early, transferring wealth to future generations, or simply achieving long-term financial independence, Revolution Group offers personalized solutions tailored to your unique goals.

This guide explores key savings milestones, factors affecting retirement planning, and actionable strategies to ensure you’re prepared for the future.

Revolution Group: Omaha’s Leading Wealth Advisors for Retirement Success

Revolution Group is proud to call Omaha, Nebraska, home while serving clients across the United States. Our team is driven by the mission to provide unmatched advice, innovative strategies, and exceptional value.

We specialize in custom retirement planning, tax-efficient investment strategies, and tailored portfolio construction. At the heart of our approach is a commitment to transparency, honesty, and integrity.

Why Choose Revolution Group?

Local Expertise with Nationwide Reach: From our Omaha headquarters, we offer family-office-level services to business owners, entrepreneurs, and multi-generational families across the country.
Real Fiduciary Standard: As a fiduciary firm, we prioritize your interests, ensuring all advice and strategies align with your financial goals.
Innovative Planning: Our wealth management strategies include tax-efficient retirement planning, private investment access, and creative approaches to wealth preservation and transfer.

Whether you’re looking for wealth advisors in Omaha, Nebraska, or seeking a financial partner with national expertise, Revolution Group is here to help you achieve your ideal retirement.

Retirement Savings Benchmarks: Are You Saving Enough?

To stay on track for retirement, it’s helpful to set clear savings milestones. While your specific goals may vary, the following benchmarks provide a roadmap for evaluating your progress:

1. By Age 30 = 1x Your Annual Salary

Aim to have saved at least one year’s worth of your salary by age 30. This early milestone helps you benefit from compound growth, allowing your investments to multiply over time.

2. By Age 40 = 3x Your Annual Salary

As your career and income grow, aim for three times your salary saved by age 40. This requires balancing expenses like family needs and homeownership with consistent savings contributions.

3. By Age 50 = 6x Your Annual Salary

By age 50, focus on paying down liabilities like debt while maximizing contributions to retirement accounts. A target of six times your salary saved by this age is a good rule of thumb.

4. By Age 60 = 8x Your Annual Salary

By age 60, refine your retirement plans and consider how you’ll transition from full-time work. Aim for at least eight times your salary saved to maintain financial security as you approach retirement.

5. By Age 67 = 10x Your Annual Salary

For those retiring around age 67 (the full Social Security benefit age), aim for ten times your salary in savings. For example, someone earning $100,000 annually should target $1 million in retirement savings.

5 Essential Factors That Influence Your Retirement Savings Goals

While benchmarks are helpful, your retirement plan should reflect your unique circumstances. At Revolution Group, we help clients define their financial goals by considering these key factors:

1. When Do You Plan to Retire?

Your retirement age affects how much you’ll need to save. Retiring early means relying on savings for a longer period, while delaying retirement gives your investments more time to grow.

2. What Lifestyle Do You Envision?

Are you dreaming of frequent travel, downsizing to a smaller home, or pursuing hobbies? Defining your lifestyle goals will help determine how much income you’ll need to support your retirement plans.

3. Where Will You Live?

Your choice of location can significantly impact your cost of living, taxes, and housing expenses. For example, remaining in Omaha or relocating to a lower-cost area could affect your savings needs.

4. Will You Retire with Debt?

Carrying debt into retirement can limit your financial flexibility. Focus on minimizing liabilities like mortgages or credit card debt to ensure a more secure financial future.

5. How Will You Handle Health Care Costs?

Health care expenses are often one of the largest costs in retirement. The average retiree may need upwards of $157,000 for health care alone, and costs often increase with age.² Building these expenses into your plan is critical.

7 Actionable Tips to Strengthen Your Retirement Plan

A secure retirement doesn’t happen by chance—it requires consistent effort and smart strategies. Here are seven tips to help you stay on course:

1. Start Early and Maximize Compounding

The earlier you start saving, the more time your investments have to grow. Even small contributions can snowball into significant savings through the power of compounding.

2. Maximize Employer Contributions

If your employer offers a 401(k) match, take full advantage. This is essentially free money that can boost your retirement savings.

3. Save 15% of Your Income

Commit to saving at least 15% of your annual income, including employer contributions. Consistently hitting this target can help ensure long-term financial stability.

4. Diversify Your Portfolio

A balanced mix of stocks, bonds, and other private assets can reduce risk and optimize growth. Revolution Group specializes in constructing tax-efficient, diversified portfolios tailored to your unique goals.

5. Reassess Your Plan Regularly

Your financial situation and goals may change over time. Regularly reviewing your retirement plan ensures it continues to align with your needs.

6. Build an Emergency Fund

Setting aside funds for unexpected expenses prevents you from dipping into your retirement savings prematurely.

7. Track Your Income Sources

Estimate how much income you’ll receive from Social Security, pensions, and savings. Compare this with your projected expenses to identify any gaps in your plan.

Take the First Step Toward a Secure Retirement

Building the retirement you envision requires careful planning and expert guidance. At Revolution Group, we take pride in delivering personalized solutions to help clients achieve financial freedom.

Whether you’re just starting to save or refining your plan, our Omaha-based team of wealth advisors is here to guide you.

Schedule Your Free Consultation Today!

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