How to put yourself in control of your future.
Overwhelmed by retirement savings?
The secret to conquering it is to do something.
What to do now:
- If you don’t have a retirement savings plan, start one today.
- If you are already saving, make sure you are gradually increasing your contributions every year.
- If you don’t have a budget start one,and track your progress for a year to see how you do.
- You are probably going to live a lot longer than you think, so it’s a good idea to start saving when you are young, you’ll have compound interest on your side.
This illustration is a hypothetical compounding example that assumes biweekly salary deferrals (for 30 years) at a 6% annual effective rate of return.