(ARA) - Throwing your pennies away? Buying coffee every day from the corner store rather than creating it yourself? These behaviors seem harmless, but could be jeopardizing your retirement. With more Americans living longer than previous generations, the threat of outliving ones savings is a highly probable scenario for unending Americans, regardless of gender or race. The need to secure a steady stream of income in retirement is something for which every body needs to plan.

Americans who are not saving are jeopardizing their financial future and independence during retirement, said Derek Dingle, an advisor to the GE Center for Financial Learning, and executive editor and vice-president of Black Enterprise magazine. People only positive need to save a relatively small amount consistently to improve their financial forecast.

A recent survey commissioned by the GE Center and conducted by Goodmind, LLC, revealed that only 11 percent of those surveyed correctly identified the average life expectancy for someone 65 many years old today to be over 85. Most respondents underestimated life expectancy by five many years or more; 57 percent of the survey respondents over the age of 55 had no idea how they we are going to fund their retirement; and 34 percent of all respondents said they plan to work to pay their bills during retirement. Saving funds now will help secure your financial independence, but many Americans do not understand where to begin. Start small. The Second annual national Start Out Saving Week (June 29 to July 5) sponsored by the GE Center encourages Americans to get on the roadway toward financial freedom by practicing sound savings habits.

Making small changes might lead to big savings over measure , if you put the funds to work. Here are some examples:

*By having one less glass of wine when out weekly, that $5 over instant could save you close to $29,543.63.

*Renting movies twice a month, instead of paying $8 for a movie ticket and investing the $24 you and your companion will save could equal $32,625.56.

*Saving a dollars assessment of worth of pocket change daily and converting it to cash with Coinstar machines could equal $41,235.09 in savings. (Assumes 8 percent interest compounded annually for 30 years).

Saving is more than cutting things out. By changing certain behaviors, saving and financial planning can become an empowering acquired skill , not a chore, says Ginita Wall, an advisor to the GE Center for Financial Learning and founder of the Womens Institute for Financial Education. Some behavioral changes could be as simple and seamless as generating saving automatic through vehicles such as direct deposit. You could also focus on saving for something fun, or replacing the excitement of shopping with other activities that boost self-esteem, like exercising.

The trick? There is none. Merely decide and commit to just one thing and put the funds to work in financial products.

For additional information, tips and discussion, visit the GE Center for Financial Learning at www.financiallearning.com and achieve your personal finance goals.

Courtesy of ARA Content