State Treasurer of Iowa

Tip from the Treasurer: Reevaluate your Retirement Approach

A recent study found that over one-third of Americans are not saving for retirement. This October 18-24, the state treasurer’s office is celebrating National Save for Retirement Week by offering tips on how to prepare or reevaluate a retirement plan:

  1. At least 70% of a person’s preretirement income is needed to maintain his or her standard of living during retirement. These retirement calculators can be used to determine specific retirement needs.
  2. Take advantage of any employer-based savings and pension plans. These plans often offer automatic paycheck deductions and employer matches.
  3. Consider investing in an IRA (Individual Retirement Account). Savers have the option of choosing tax-free growth or saving on a tax-deferred basis.
  4. Determine how much money can be saved on everyday purchases with this Small Change, Big Savings calculator.

For more information on planning for retirement, visit the United States Department of Labor. To register for webinars held during Save for Retirement Week, visit this Webinar Series
 

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