Photo by Mathieu Stern
I recently had the opportunity to sit down with Michael A. Scarpati, CEO of RetireUS, to discuss a topic that’s on the minds of many—financial stress and how it impacts our ability to save for retirement. Our conversation was an eye-opener, especially in how Michael breaks down the overwhelming process into manageable steps.
“Saving for retirement can feel overwhelming, and it’s easy to get caught up in all the ‘what ifs,’” Michael began. “What if I don’t save enough? What if the market takes a downturn? These are legitimate concerns, but they can also lead to a kind of paralysis where people end up doing nothing because they’re so overwhelmed.“
It’s a scenario that many of us can relate to. The stress of trying to figure out the perfect retirement plan often leads to inaction. The fear of making a wrong decision becomes an excuse to make no decision at all, which is, of course, the worst decision you can make when it comes to your financial future.
Michael had a straightforward piece of advice to combat this paralysis: “Start small and simplify. You don’t need to figure out everything right away. Begin with small, achievable savings goals. For instance, if your employer offers a 401k match, take advantage of it. This is essentially free money that boosts your retirement savings without requiring any extra effort on your part.“
This approach makes a lot of sense. By setting small, manageable goals, you reduce the mental burden that comes with planning for something as monumental as retirement. You start to build momentum with each small victory, which in turn makes it easier to tackle bigger challenges down the road.
Once you’ve started small, the next step is to gradually increase your savings. Michael explained this process with a calm assurance that only comes from years of experience in the field.
“After you’ve established a basic savings routine, it’s time to scale gradually,” he said. “This means testing how saving a bit more impacts your lifestyle. The key is to find that sweet spot where you’re saving more but not significantly altering your daily life. Maybe it’s cutting back on non-essential spending or finding ways to lower your monthly expenses, but do it in a way that doesn’t feel like you’re making a huge sacrifice.”
This method of scaling up gradually is something that often gets overlooked in the typical financial advice we hear. So many people are told to make drastic cuts and save large amounts immediately, which can feel like an impossible task. Michael’s approach is much more sustainable. It’s about making adjustments that you can live with, ensuring that your savings plan doesn’t just start—it sticks.
Finally, Michael shared what might be the most crucial tip for reducing financial stress: automation.
“Set it and forget it,” he advised. “Once you’ve found a comfortable amount to save, automate it. Set up automatic transfers from your checking account to your savings or retirement accounts. Paycheck deductions are particularly effective because the money goes directly into your savings before you even see it. This ensures consistent saving without the stress of having to remember or make manual transfers.”
Automation, as Michael describes it, removes a significant source of stress from the equation. By automating your savings, you’re not only ensuring that you consistently contribute to your financial goals, but you’re also freeing up mental space. You don’t have to worry about missing a contribution or second-guessing whether you’re saving enough. It just happens, seamlessly and effortlessly.
As our conversation drew to a close, it became clear that Michael’s advice is about more than just financial tips—it’s about changing how we approach the idea of saving itself. Instead of letting stress dictate our financial decisions, we can use these straightforward strategies to take control, bit by bit, until we’ve built a solid foundation for the future.
RetireUS, as Michael explained, is built on this very principle. “We meet people where they are,” he said. “Our goal is to help everyone enhance their financial freedom, no matter their starting point. Whether you’re just beginning your savings journey or looking to refine your approach, we offer the resources and guidance you need to succeed without feeling overwhelmed.“
Leaving the conversation, I realized that turning stress into savings is not just about dollars and cents—it’s about taking manageable, consistent steps toward financial security. And with the right guidance, what once seemed like a daunting task becomes a clear, achievable goal.
