Participant Corner: Save Early, Aim for Your Goal

Contributing to your employer’s retirement plan as soon as you’re eligible is crucial to meeting your retirement goals. The earlier you start saving, the more time compounding interest has to work on your behalf. Putting off contributions today means increased contributions to reach the same goals tomorrow.

For example:

Shane, Maria and Nadia are each beginning their retirement savings journey today and each wish to accumulate $300,000. How much do they need to contribute to meet their goal?

            Shane                                                                       Maria                                                                         Nadia
       25 years old                                                            35 years old                                                              45 years old                                                     
      Needs to Save:                                                       Needs to Save:                                                        Needs to Save
        $93/month*                                                           $210/month*                                                           $520/month*
       (480 months)
                                          (360 months)                                           (240 months)


For more information on your company’s retirement plan, contact your financial professional at [PHONE] or [EMAIL ADDRESS].

*Assumes an average rate of return of 8%. These examples are hypothetical in nature, do not represent any specific investment, and do not account for any fees or expenses associated with an actual investment. Investing involves risk, including the possible loss of principal.


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