How much should you save for retirement?

Knowing how much retirement savings you’ll need starts with knowing what you spend to support your lifestyle today. Some of your 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.

 

See if you’re on track to retire.

Are you saving enough for the retirement you want? Our retirement calculator can help you track your progress. Use it to test a variety of scenarios and see where you stand today.

Use our retirement calculator

Grow your retirement savings.

Contributing to an individual retirement account (IRA) can help you grow your savings at retirement strategically. Different types of IRAs provide unique tax, savings and income advantages for your retirement plans. We offer:

  • Traditional IRAs
  • Roth IRAs
  • SEP IRAs
Learn more about IRAs

Ready to open an IRA?

We make it easy. Whether you prefer investing on your own or want personal investment guidance, we have an option to fit your needs.

Open an IRA

IRA contribution limits

Tax year 2024 contribution limits:

  • Under age 50: $7,000 per year
  • Over age 50: $8,000 per year


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

Contribute now

Further build your retirement savings.

After you’ve maximized your IRAs, 401(k) account and other tax-advantaged investments, consider other investing options to build your retirement savings even further. We offer several ways for you to invest.

Learn more about ways to invest

Roll over your 401(k) account.

Saving for retirement involves more than setting aside funds for the future. When you roll over1 your previous employer’s 401(k) or 403(b) account, we can give you a clearer view of your current financial situation. We’ll work with you to create a comprehensive financial plan based on your retirement savings goals.

Learn how to roll over a 401(k) account

Invest your way.

Choose the retirement investing approach that fits you best. Whether you want to invest online or prefer personal financial planning guidance offered by a Wealth Management Advisor from U.S. Bancorp Investments or a U.S. Bank Private Wealth Advisor, we have options to meet your needs.

Work with an advisor

Understanding your goals and making sense of your finances is just the starting point for your one-on-one personalized guidance. We’ll help you move forward with a tailored strategy to work toward the future you want.

Find an advisor
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Online investing

For easy automated investing at a low cost, consider Automated Investor. Or, if you want to build and manage your own portfolio, try self-directed investing. Either way, there’s an online investing option from U.S. Bancorp Investments that’s right for you.

Compare options

Insights from our experts

Investing through workplace retirement plans

Workplace retirement plans allow you to invest with ease while working toward financial security.

Watch the video

4 benefits of an IRA

Look beyond your 401(k) account or pension to maximize the power of your retirement savings.

Learn more

How much should I save for retirement?

A look at what percentage of earnings to set aside and strategies to stay on track at different life stages.

Read article

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Disclosures

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  1. A rollover of qualified plan assets into an IRA is not your only option. Before deciding whether to keep an existing plan, or roll assets into an IRA, be sure to consider potential benefits and limitations of all options. These include total fees and expenses, range of investment options available, penalty-free withdrawals, availability of services, protection from creditors, RMD planning, and taxation of employer stock. Discuss rollover options with your tax advisor for tax considerations.

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Investment and insurance products and services including annuities are:
Not a deposit • Not FDIC insured • May lose value • Not bank guaranteed • Not insured by any federal government agency.

U.S. Wealth Management – U.S. Bank | U.S. Bancorp Investments is the marketing logo for U.S. Bank and its affiliate U.S. Bancorp Investments.

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U.S. Bank, U.S. Bancorp Investments and their representatives do not provide tax or legal advice. Each individual's tax and financial situation is unique. You should consult your tax and/or legal advisor for advice and information concerning your particular situation.

This information represents the opinion of U.S. Bank and U.S. Bancorp Investments and is designed to be educational and informative. The views are subject to change at any time based on market or other conditions and are current as of the date indicated on the materials. This is not intended to be a forecast of future events or guarantee of future results. It is not intended to provide recommendations and/or specific advice concerning retirement accounts or investment planning. It is not intended to be construed as an offering of securities or recommendation to invest. Not for use as a primary basis of investment decisions. Not to be construed to meet the needs of any particular investor. Not a representation or solicitation or an offer to sell/buy any security. Investors should consult with their investment professional for advice concerning their particular situation.

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For U.S. Bank:

Equal Housing Lender. Deposit products are offered by U.S. Bank National Association. Member FDIC. Mortgage, Home Equity and Credit products are offered by U.S. Bank National Association. Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice.

U.S. Bank is not responsible for and does not guarantee the products, services or performance of U.S. Bancorp Investments, Inc.

U.S. Bank does not offer insurance products. Insurance products are available through our affiliate U.S. Bancorp Investments.

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For U.S. Bancorp Investments:

Investment and insurance products and services including annuities are available through U.S. Bancorp Investments, the marketing name for U.S. Bancorp Investments, Inc., member FINRA and SIPC, an investment adviser and a brokerage subsidiary of U.S. Bancorp and affiliate of U.S. Bank.

U.S. Bancorp Investments is registered with the Securities and Exchange Commission as both a broker-dealer and an investment adviser. To understand how brokerage and investment advisory services and fees differ, the Client Relationship Summary and Regulation Best Interest Disclosure are available for you to review.

Insurance products are available through various affiliated non-bank insurance agencies, which are U.S. Bancorp subsidiaries. Products may not be available in all states. CA Insurance License #0E24641.

Pursuant to the Securities Exchange Act of 1934, U.S. Bancorp Investments must provide clients with certain financial information. The U.S. Bancorp Investments Statement of Financial Condition is available for you to review, print and download.

The Financial Industry Regulatory Authority (FINRA) Rule 2267 provides for BrokerCheck to allow investors to learn about the professional background, business practices, and conduct of FINRA member firms or their brokers. To request such information, contact FINRA toll-free at 1-800‐289‐9999 or via https://brokercheck.finra.org. An investor brochure describing BrokerCheck is also available through FINRA.

U.S. Bancorp Investments Order Processing Information.

Municipal Securities Education and Protection– U.S. Bancorp Investments is registered with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board (MSRB). An investor brochure that describes the protections that may be provided to you by the MSRB rules and how to file a complaint with an appropriate regulatory authority is available to you on the MSRB website at www.msrb.org.