Retirement may be a long way off, but it's good to get into the savings habit now. Even saving a small amount each month can get compound interest working for you. In fact, you may have the potential to accumulate far more that way than if you wait and try to catch up later. As the saying goes, "Slow and steady wins the race."
When you're in your 20s and 30s, focus on making savings a priority. A rule of thumb is to try to save 8-10% of your income. If you have access to a workplace retirement plan, consider enrolling. If you've started a family or purchased a home, consider insurance and make a will to help protect you and your family. Learn about the cornerstones of retirement planning
A rollover of qualified plan assets into an IRA is not your only option. Before deciding whether to keep an existing plan, or rolling it 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.
Work with U.S. Bank
Bankers can help you create a plan to save for retirement. Find a Branch
U.S. Bancorp Investments Financial Consultants can help. Call 800-871-6250 or have us contact you
If you have more complex financial needs, we offer comprehensive wealth management advice and services. Learn more
Investment and insurance products are:
Not a Deposit • Not FDIC Insured • May Lose Value • Not Bank Guaranteed • Not insured by any Federal Government Agency