Getting Started
It's never too early - or too late - to start saving for retirement. People don't plan to fail, they fail to plan! No need to procrastinate...we have the tools and resources to help you get started.
Besides your social security income, the money you save will likely make up a significant portion of the resources available for you in retirement. To ensure you have enough to meet your goals, it is important that you start saving early by investing in both your employer's retirement plan and in your own weekly or monthly plan.
If You Haven't Started a Plan, Now is the Time
When should you start saving for retirement? Whether you just graduated from school, at the pinnacle of your career or slowing down after many years of work, retirement is something you should continually be saving for. There is no time like the present.
Understanding Compounding
The most important part of your savings plan is to start as early as possible. When you start early, an investment has a chance to grow (compound) over time. And when you invest in a tax-advantaged plan through one of the many top rated companies that we represent, your earnings can compound tax-free on a tax-deferred basis until you are ready to start withdrawing your money.
Participate in Your Employer's Plan
If your employer offers a tax-deferred retirement savings plan such as a 401k or 403b, you should at least contribute enough to maximize all employer matching contributions. A good starting point would be 10% of your income, however even a small amount is better than nothing. If you have any additional extra after tax money, consider investing in a Roth or traditional IRA.