6 Highroads Living - Volume 11 • Issue 1
HighroadsLiving.com
5 retirement readiness hacks
to help you save smarter
What are your goals for the future?
One simple way to start is understanding where your If retirement planning is top of mind, money is going and any barriers that are holding you back from meeting your goals. Utilize online you’re not alone. tools that can help provide a holistic snapshot of According to new research from Empower and your financial life and commit to making changes Personal Capital, 36% of Americans are making where necessary. For example, determine areas retirement planning a priority this year. That’s more you can decrease spending and put more money than those who said losing weight (28%), buying a toward saving. house (14%) or getting a new job (11%). MAXIMIZE RETIREMENT SAVINGS PLAN PERKS Don’t leave “free” money on the table. If you have Whether you’re just getting started or looking to kick it up a notch, here are some of the best ways to an employer-sponsored 401(k) plan (or 403b, 457 or other), enroll and meet your match. This is the save for retirement in 2022 and beyond: money your employer provides to match what you set aside for retirement, so you can save more than UNDERSTAND YOUR COMPLETE FINANCIAL if you did it individually. PICTURE It’s important to look at your finances from where you are in the present and where you want to be in the future. Make sure you’re in a good spot now, so you can stay on track to accomplish future financial goals.
Additionally, check out the IRS 401(k) limits and consider maxing out your contribution. For 2022 the IRS allows individual contributions of $20,500 per person and $27,000 (including catch-up
