Signup to receive email updates




or follow our RSS feed

Blog Archives

490 Total Posts

follow our RSS feed

Blog Banner

Plan Well, Retire Well

Saving and investing your money
iStock 000005391774XSmall  2

Save for Retirement Week: Let's Do It!


It's National Save for Retirement Week! And, this is a great time to start saving for or increase your retirement savings. Saving even small amounts NOW will add up over time. Here are some excellent strategies to get started:

1) Pay yourself. Think of savings as a bill to be paid.

2) Use payroll deductions. Have your employer deposit your savings directly from your paycheck into a savings account. Making your savings automatic – where you don't have to decide week to week how much to save – means that it will happen and the savings will add up!

3) Participate in an employer-sponsored retirement plan. Some employers will match the amount you put into the savings plan. If your employer matches a dollar saved with a dollar match, that's a 100% return. You will not beat that return anywhere.

4) Save in a tax-deferred retirement plan. Self-employed people (and others) can save in tax-deferred plans like IRAs (Individual Retirement Accounts).

Is it hard to find the money to get started? One of these strategies may help:

1) Pay installments to yourself. Once you pay off an installment loan like a car loan (and if other loans aren't overdue), make "payments" to your savings account.

2) Have a "Nothing Week." Occasionally have a week when you don't spend any extra money -- don't go to the movies, don't go out to eat, don't go bowling. Save the money you would have spent.



Please share this article with your friends!
Share on Facebook Tweet on Twitter Pin on Pinterest

COMMENTS



Email will not display publicly, it is used only for validating comment