YOUR RETIREMENT SAVINGS: HERE'S HOW TO START
Ready to kickstart your saving plan today? These tools can help.
If you're older than 25 or so, you've probably noticed how time seems to speed up as you age. One day you're graduating from college, and the next thing you know, you have a mortgage, a car loan or two, and maybe a fund for your children's college education.
In the midst of all that, it's easy to put off saving for retirement. After all, that day might seem like a long ways off, and you have immediate needs to meet. But given how time seems to accelerate, retirement will arrive sooner than you might think.
The good news: You have a wealth of tools to help you save for it. Even better news: It's always better to start now than never to start at all.
These two share some essential similarities in the sense that both allow you to invest a portion of your paycheck before taxes get taken out of it (something that's commonly referred to as using "pretax dollars"). The key difference is that most 401(k) plans are offered by for-profit companies, while 403(b)s are typically offered by tax-exempt organizations such as schools, hospitals or religious groups.
Here are a couple of tips to note:
There are two basic types of IRAs:
Take the First Step!
If there's one universal truth about retirement savings, it's this: There is no one-size-fits-all solution. And figuring out what will work for you can be overwhelming. Not sure where to start? A Thrivent Financial professional can help you to understand your options.
No matter what stage of your Wise With Money Journey you're in, we can help you explore a wide range of financial products and services to help you reach your goals.
An IRA offers convenience, opportunities and benefits that other savings vehicles don't. Two of the most common types of IRA are traditional and Roth.
With our fee-based Financial Planning Services, you'll work with a Thrivent Financial professional who can provide ongoing, objective advice and help you create a holistic, personalized plan.
Insurance can help support several aspects of your financial strategy. We can help you use insurance as a buffer between you and financial hardship – and as a means for funding future goals.
MORE TO EXPLORE
You can't necessarily call unexpected expenses "unexpected." They arise for all of us. If you're not prepared for such pitfalls, they can quickly derail your financial life. Having an emergency fund in place can provide valuable protection.
Your insurance strategy can help provide protection and flexibility for you and your family. In particular, cash value life insurance can provide a range of options. And getting cash out of your life insurance may be easier than you think.
Change is inevitable. When it happens, life's big events – the celebrations and the disappointments – may be ideal times to consider if the life insurance you have is what you want. And what you need.
Thrivent Financial and its representatives and employees cannot provide legal, accounting, or tax advice or services. Work with your Thrivent Financial professional and, as appropriate, your attorney and tax professional for additional information.
THRIVENT IS THE MARKETING NAME FOR THRIVENT FINANCIAL FOR LUTHERANS. Insurance products issued by Thrivent. Not available in all states. Securities and investment advisory services offered through Thrivent Investment Management Inc., a registered investment adviser, member FINRA and SIPC and a subsidiary of Thrivent. .