Yahoo TV

As the Federal Reserve's stance on rate cuts remains uncertain, investors are evaluating the potential impact on their retirement portfolios. J.P. Morgan Asset Management Chief Retirement Strategist Michael Conrath joins Yahoo Finance Live to discuss why individuals need to "get started now" on their retirement savings.

Conrath emphasizes that "the biggest thing is to have a plan," noting that more people plan for vacations than retirement. He advises that the first step is considering how much you will need, then factoring in "longevity" and the retirement's projected duration.

Conrath highlights several key developments available in 2024 that can aid in retirement planning. He first emphasizes the importance of emergency savings accounts, calling them "the bedrock" to protect your retirement. Secondly, he notes that those making student loan payments may be eligible to receive retirement contribution matches from their employers.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Angel Smith