Your Financial Future
Whether you’re just getting started in your career or planning to retire in a few years, it’s never too early – or too late – to create a financial safety net. Now that you have a strong foundation for your finances, you can build on it by planning for the future.
The coverage included in your foundation – medical, dental, vision, and even life and disability insurance – is designed to protect your income in the present, or in the event of the unexpected. With the basics covered, you can start to save for retirement. A 401(k) makes it easy to save over time. If you’re age 55 or over, you can contribute an additional $1,000 each year.
It’s important to make this second tier of your financial pyramid just as strong as the foundation, so take some time to fully consider when you plan to retire, how much you’ll need to save, and how much you can contribute each paycheck. Saving even a small amount will add up over time, creating a second tier you can rely on in retirement.
Just as creating a safety plan and being prepared for the unexpected protects your physical well-being, creating
a financial safety net will protect you into retirement.
Challenge Yourself to Save
If you’re looking to save money, you might as well make it fun! Try some of the following savings challenges, and watch your money stack up.
Put It Back Challenge
Every time you’re shopping, put one thing back on the rack or shelf before you check out.
Cash Only Challenge
Use only cash for all your expenses this week.
$5 Challenge
Save every $5 bill you receive.
One Room Challenge
Each week, de-clutter one room of your home and sell or donate the items you no longer want or need.