There are three basic steps to make sure your savings can help you meet your future needs:
Pay yourself first – set aside a portion of your paycheck for savings before paying for other expenses.
Create an emergency fund – Life is unpredictable, so saving three to six months of expenses is a good rule. Here is where your income tax refund/next raise can go.
Focus on retirement – If your employer offers matching to all or even a portion of your contributions, take advantage. Industry experts suggest saving 10-15% per pay period toward retirement.1
Retirement savings tools
See how increasing your contributions on a monthly, semi-monthly or bi-weekly basis may affect your take-home pay. Retirement money is often tax-deferred so saving more may cost you less than you think.