How much should you save for retirement?

Knowing how much retirement savings you will need starts with knowing how much you spend to support your lifestyle today. Some expenses may go away by the time you retire, like the cost of raising kids. Others are likely to increase, like the cost of health care. Maximizing your retirement savings now may give you the best chance of living the retirement lifestyle you envision.

Growth

 

Grow your retirement savings.

Contributing to an IRA can help you grow your savings strategically. These accounts offer different tax, savings, and income advantages for your retirement plans. We offer:

  • Traditional IRAs
  • Roth IRAs
  • SEP IRAs
  • U.S. Bank Heritage IRAs

Learn more about IRAs

IRA contribution limits

Tax year 2019 contribution limits:

  • Under age 50: $6,000 per year
  • Over age 50: $7,000 per year

Already have an IRA with U.S. Bancorp Investments?

Contribute now

Consolidation

 

Rollover your 401(k).

When you rollover1 your previous employer’s 401(k) or 403(b), we can help you create a comprehensive financial plan and investment strategy with a clear vision of what you want to achieve. With a 401(k) rollover you direct the transfer of the money in your retirement account to a new plan or IRA. The IRS gives you 60 days from the date you receive an IRA or retirement plan distribution to roll it over to another plan or IRA.

How to rollover your 401(k)

Income

 

Create your retirement income strategy.

Planning ahead enables you to be better prepared to manage your retirement income. Considerations may include pensions and annuities, drawdown strategies and the age you choose to retire.

Learn about retirement income

Open an IRA.

One of the best things you can do to save for retirement is to invest in an IRA. If you open one before July 15 you may be able to take advantage of tax benefits.

Learn how to open an IRA

Ways to work with us

Whether you prefer investing online, want personalized financial planning guidance – or want a little of both – we have options to meet your needs.

Personal guidance

Making sense of your current finances is our starting point for developing your retirement savings plan. We'll tailor your investment strategy to help you work toward your goals for the retirement lifestyle you envision.

Work with a financial advisor or banker

Online investing

For your retirement savings, whether you want a managed-for-you option, Automated Investor, or you prefer to build and manage your own portfolio through Self-directed brokerage we've got an online investing option for you from U.S. Bancorp Investments.

Compare online investing options

Insights

 

What is an IRA?

This tax-advantaged investment tool is designed to help you save towards retirement.

Types of IRAs

3 retirement withdrawal strategies

Do you have a plan in place for spending the money you have saved?

Read article

Women and retirement: financial planning

Identify a path to follow on your journey to retirement.

Learn how