ACCC Helps Consumers Start Planning For Retirement Early

ACCC gives five tips on what consumers need to consider when planning for retirement

Boston, MA – June 13, 2019

Planning for Retirement EarlyAlthough retirement among millennials and young professionals may be decades away, it is important that consumers invest early and think long-term. The money adds up, so the sooner consumers start saving the more they will have in their nest egg to live a comfortable retirement. To help, national nonprofit American Consumer Credit Counseling (ACCC) explains five tips on how consumers can start planning for retirement early.

“There is no such thing as saving too early for retirement,” said Steve Trumble, President, and CEO of American Consumer Credit Counseling. “With careful planning and diligent saving, consumers should have enough in their nest egg by the time they hit retirement age to live a healthy financial life.”

According to the 2019 Retirement Confidence Survey, about 67 percent of workers are confident they will have enough money for a comfortable retirement, while only 23 percent seem very confident. The survey also found that only 42 percent of consumers have calculated how much they will need to save for retirement. Fidelity suggests that consumers have at least one times their salary saved by 30, three times by 40, six times by 50, eight times by 60 and 10 times by 67.

ACCC provides consumers five tips on what to consider when starting to save for retirement early.

  1. Calculate a comfortable nest egg – It is important for consumers to calculate how much money they need to save for retirement to achieve a good understanding of their ideal target dollar amount.
  2. Calculate current spending – Consumers who know how much they typically spend annually have a better idea on how much they will most likely spend during retirement.
  3. Make changes to current lifestyle – Consumers should look at their spending habits and see where they can cut back or adjust. By cutting back on unnecessary expenses, consumers can put that money towards retirement to reach their goal in a timelier manner. For example, consumers can cut down on vacations or premium TV channels.
  4. Utilize retirement plans – Employer offered 401(k) plans allow employees to contribute pre-tax money to their retirement savings. Many employers will also offer to match employees’ contributions up to as much as 50 percent.
  5. Meet with a financial advisor – Talking with a professional will help consumers create and maintain a steady retirement plan and will help consumers steer clear of unfavorable results.

ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:

  • For credit counseling, call 800-769-3571
  • For bankruptcy counseling, call 866-826-6924
  • For housing counseling, call 866-826-7180
  • Or visit us online at

About American Consumer Credit Counseling

American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education concerning debt solutions. To help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loan assistance, youth and money, homeownership, identity theft, senior living, and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free financial education resources, log on to or visit