How to Save Up to $100,000 in 5 Years, Your Kids’ Social Security Number and More article The National Association of Social Security Administrators has released a new report that shows how to make your retirement a little bit more secure.
The report shows how much money can be saved for each of your children’s Social Security benefits in the first five years after retirement, and it’s worth paying attention to.
According to the report, in 2025, each of the six most common types of child support can be reduced by up to $250, and the average cost per child can drop from $1,350 to $1.50.
The best savings strategies include: Starting with $10,000 per year from your own savings and then adding $25,000 from your employer.
The amount that you need to put in each year can vary depending on the amount you need each year, but the savings should be in the ballpark of $10k per year.