Mark Hulbert: The single most important retirement strategy

Which of the following has the greatest impact on your retirement standard of living?

Saving an additional 1% of your salary for the 30 years prior to retirement, or postponing your retirement by 3 to 4 months?

This seems like one of those impossible questions to answer. Fortunately, however, a new study circulated by the National Bureau of Economic Research has reached an answer. And it’s not what you think.

Believe it or not, the authors found that these two options have roughly equal impact for the vast majority of investors. That seems hard to believe, since not spending 1% of your salary for each of 30 straight years seems like a far greater sacrifice than working for another couple of months.

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