top of page

RETIREMENT SAVINGS RESOLUTIONS FOR THE NEW YEAR

While getting your health into shape tops many Americans’ New Year’s resolution list, getting your finances in shape should be another goal you make in the New Year. Why is this so important? A recent study showed that nearly 40 percent of Americans don’t have any retirement savings.* That’s a big deal. This year, consider making a Retirement Resolution. Source: NLG


Here are a few simple tips for helping you stay on track:

  1. Set short term goals. Do you feel overwhelmed by how much you need to save? Instead of thinking of a total amount you’ll need saved by the time you retire, start small. For example, set aside $30 a week rather than worrying about how you will manage to save $30,000.00 in a year. While it might not seem like a lot, a little can add up fast.

  2. Change your date night. Instead of going out to eat every Friday night, try making dinner at home twice a month instead. The money you save on going out to restaurants can be put directly into your retirement account.

  3. Set up Automatic Payments. It’s easy to say you’re going to diet, but following through with a diet is harder. It can be the same with savings. Here’s an easy tip: set up automatic transfers each month so you won’t be tempted to spend that savings on something else.

  4. Add to your retirement portfolio. While contributing to a 401(k) is a great start to a retirement portfolio, don’t put all your eggs into one basket. This New Year’s think about adding other options like a Fixed Indexed Annuity to balance your portfolio. Just make sure that you’re taking full advantage of any employer match that is offered in your 401(k) first.

*FINRA Investor Education Foundation – Financial Capability in the United States, May 2013.




Schedule 15 minute free consultation with specialist




Comments


© 2020 — By  FCA Insurance Services All RIGHTS RESERVED - NOTE: NOT ALL PRODUCTS AVAILABLE IN ALL STATES

  • Facebook
  • Instagram
  • YouTube
  • LinkedIn
  • Twitter
  • Vimeo
  • Google Play

The content on this website is being provided for informational purposes only and is not intended to be tax or legal advice. FCA Insurance Services is an insurance agency that offers fixed annuity and fixed life insurance products. This website is for U.S. persons only and may not be approved in all states. Information contained on this site does not and is not intended to constitute an advertisement, solicitation, or offer for sale in any jurisdiction outside the United States, where such use would be prohibited or otherwise regulated. Not an Offer to Sell/Buy Securities: Information contained on this website is not an offer to sell securities or the solicitation of an offer to buy securities. This information is Subject to Change Without Notice.

bottom of page