Mon Jun 30 23:30:00 UTC 2025: Okay, here’s a summary of the article and a rewritten version as a news article:

**Summary:**

The article highlights the importance of retirement planning and savings, noting that only about half of Americans have calculated their retirement needs. It advises readers to:

* Calculate how much they’ll need for retirement.
* Start saving early to leverage the power of compounding.
* Take the appropriate level of investment risk for growth.
* Save separately for emergencies to avoid dipping into retirement funds.
* Consider consulting a financial advisor to develop a personalized strategy.

**News Article:**

**Only Half of Americans Know How Much They Need for Retirement: Here’s How to Plan**

*HAMMOND, LA – June 30, 2025* – Despite the widely accepted importance of saving for retirement, a recent survey reveals a concerning trend: only approximately 50% of Americans have actually calculated how much money they’ll need to retire comfortably. This lack of planning could jeopardize future financial security for many, experts warn.

According to the 2024 Retirement Confidence Survey by the Employee Benefit Research Institute, many individuals are failing to take the crucial first step of determining their retirement income needs. “Retiring ‘comfortably’ is a common goal, but without a concrete monetary target, it’s difficult to track progress and ensure you’re on the right path,” explains Jess Williams, an Edward Jones Financial Advisor serving Hammond.

Williams emphasizes several key strategies for effective retirement planning:

* **Calculate Your Needs:** Outline current spending and project future expenses during retirement to estimate the necessary savings.
* **Start Early:** Leverage the power of compounding by beginning to save as soon as possible. For those nearing retirement, “catch-up contributions” to 401(k) and similar plans allow for increased savings. Individuals 50 and older can contribute an extra $7,500 annually beyond the standard limit in 2025, and those aged 60-63 can contribute an extra $11,250.
* **Manage Risk:** A balanced investment portfolio that accounts for both growth and inflation is crucial. A portfolio overly invested in cash risks losing value over time.
* **Emergency Fund:** Protect retirement savings by establishing a separate emergency fund to cover unexpected expenses.
* **Professional Advice:** A financial advisor can provide personalized guidance and resources for building and managing a successful retirement strategy.

“Retirement should be an exciting time,” Williams concludes. “Planning for your financial needs and protecting those savings is essential to ensure a comfortable and worry-free future.”

*Jess Williams can be contacted at the Edward Jones office at 904 W. Thomas St., Hammond, at 985-340-7032 or at [website address]*

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