Here's how much the average 60-year old American holds in retirement savings — how does your nest egg compare?

Chances are good you're ahead of 25% of your peers.

Baby boomers couple having fun in Grand Canyon.

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By Moneywise Mar. 14, 2023

New research by the Federal Reserve shows that an astounding one in four Americans (including the 27% who consider themselves retired) have absolutely nothing saved.

And even if you have something tucked away, it may not be enough — though that is something you can change even late in the game.

A Vanguard study found those between 55 and 64 held an average of roughly $256,000. But this includes high income earners; breaking the figures down, it shrinks to a median of about $90,000.

It’s never too late to start putting cash aside — so here are three tips to grow your nest egg.

Protect your nest egg with a stable alternative

With the economy in such a volatile state amid high inflation and stock market uncertainty, your 401(k) or IRA — and your retirement itself — could be at risk.

A Gold IRA is a great alternative to protect your future. Unlike the U.S. dollar, which has lost 98% of its purchasing power since 1971, gold’s purchasing power remains stable over time.

Goldco is a reputable precious metals dealership offering IRAs and direct purchases of precious metals and coins.

While inflation is increasing everyone’s expenses, precious metals won’t be affected — so a Gold IRA might be the best thing to preserve your retirement.

Find a financial advisor in minutes

Talk to a professional about your financial situation

If you're worried about your nest egg, finding a trusted financial advisor who knows your retirement goals inside and out can give you peace of mind.

There are free online services that are designed to match you with experienced professionals based on your unique needs.

Datalign, for example, can pair you up with a pre-screened advisor in as little as three minutes.

You don’t have to navigate your retirement savings alone, and you definitely don’t have to do it without a vetted financial advisor at your side.

Once you're matched, consult for free with no obligation.

Explore better insurance rates

It’s not uncommon for people to take what they’re given when it comes to insurance rates. But the truth is, you could be wasting away a solid nest egg by overpaying for your coverage.

SmartFinancial is a platform where you can compare insurance rates in your area to find the best deal — for both your home and car.

All you need to do is answer some quick questions about yourself and they’ll instantly sort through over 200 insurers to find you the best rates available and any discounts.

This tool streamlines shopping around for more affordable home insurance and auto insurance rates. They do all the work for you so you can shave your monthly insurance bill and put that extra cash into your future.

Jump-start your retirement plan with personalized advice

Are your retirement savings on track? Get personalized advice from a financial advisor that understands your needs.

Datalign matches you with vetted registered advisors that can help you improve your investment portfolio and grow your retirement savings safely. In minutes, you can connect with a local or remote advisor and get a free initial consultation.

Get matched with a financial advisor today at Datalign and get on the path to financial success.

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