Pulse believes it’s never too early to start preparing for retirement.  Whenever that time comes for you, it’s important to form financially healthy habits because even choices you make early on will affect your opportunities in retirement. Here is how you can contribute to a more well-rounded retirement plan today:

Strike a balance among your spending, savings and debt

  • Spend less than you earn.
    Having a budget puts you in control, so you can enjoy your money, instead of worrying about the bills.
  • Take advantage of matching contributions.
    If your employer offers matching contributions in your workplace savings plan, don’t say “no thanks.” It’s like getting free money.
  • Pay off high interest rate credit card debt.
    Make paying down high interest debt a priority.
  • Establish an emergency fund that will last at least three months.
    Freedom is knowing that you can get by without a paycheck if you have to.
  • Fund a supplemental retirement savings account
    Once you’ve maxed out your workplace savings plan, there are many investment options that can allow you additional tax-advantaged growth.

Invest now and thank yourself later

  • Maximize your employer match.
    Make sure you are taking full advantage of employer matching contributions to your workplace savings plan.
  • Use tax-advantaged savings plans.
    Save as much as you can through tax-advantaged accounts (maximize contributions to your workplace savings plan and then open an IRA).
  • Prioritize other financial goals.
    Address your other savings goals (e.g., child’s college savings) after you have set up your retirement savings strategy.
  • Consolidate old workplace savings plans if you change jobs, to keep better track of your money.
    For many, consolidating into an IRA offers the most compelling benefits.
  • Establish an automatic investment plan.
    Scheduling regular, automatic transfers to your investment account can help keep your savings goals on track.

Make an appointment for a complimentary retirement evaluation