Tips for Saving

The time to save is now!

Now is the time to reassess the recession’s impact on retirement savings and reformulate a plan. Encourage your participants to do more than “set it and forget it.” Use these resources to help participants engage in their retirement security. For tips, ideas, calculators and more, visit the organizations below.

Savings Information Resources

The resources below offer great starting points for a savings plan.

Retirement Planning Resources

• Retirement Planner, Social Security Administration
• Retirement Savings Education Campaign: Saving Matters,  Employee Benefits Security Administration (EBSA), U.S. Department of Labor
• Retirement Toolkit, EBSA, SSA and CMS
• Social Security 101: What's In It For Me? (video), Social Security Administration
• Retirement Expectations Checklist, Insured Retirement Institute

Savings Resources

• America Saves
• Consumer Information,  Federal Reserve Board      
• Money Smart: A Financial Education Program, Federal Deposit Insurance Corp.  
• Money Smart for Older Adults, Consumer Financial Protection Bureau and Federal Deposit Insurance Corp.
  
• Money as You Grow: Help for Parents and Caregivers, Consumer Financial Protection Bureau
  
• Savings Fitness: A Guide to Your Money and Your Financial Future, U.S. Department of Labor Employee Benefit Security Administration (EBSA)  
• SmartAboutMoney.org, National Endowment for Financial Education (NEFE) 
• Roadmap to Saving and Investing, U.S. Securities and Exchange Commission
  

Retirement Planning and Savings Resources

• Choose to Save, Employee Benefit Research Institute (EBRI) and American Savings Education Council (ASEC) 
• Financial Literacy and Education Commission Resource Center, Department of Treasury
• Investor.gov, Securities and Exchange Commission (SEC)

• Managing Retirement Decisions, Society of Actuaries
  11 issue briefs in everyday language for consumers and participants:

  • Big Question: When Should I Retire?
  • When Retirement Comes Too Soon
  • Women Take the Wheel: Destination Retirement
  • Deciding When to Claim Social Security
  • Designing a Monthly Paycheck for Retirement
  • Treating Asset Allocation Like a Roadmap
  • Securing Health Insurance for the Retirement Journey
  • Taking the Long-Term Care Journey
  • Where to Live in Retirement
  • Estate Planning: Preparing for End of Life
  • Finding Trustworthy Financial Advice for Retirement and Avoiding Pitfalls
• Money, Federal Citizen Information Center (FCIC)
• My Money, Financial Literacy & Education Commission​
• myRA​, Treasury Department (phased out as of July 28, 2017 and site is no longer updated)
  
• Pension lump-sum payouts and your retirement security: A guide for consumers considering their retirement payout options from a private-sector plan​, Consumer Financial Protection Bureau (CFPB)
• Planning for Retirement, CFPB​​ 
• Retirement Benefits and Savings, videos, DOL EBSA
• 360 Degrees of Financial Literacy, American Institute of Certified Public Accountants (AICPA)
• Why Leave Money on the Table -- Make the Most of Your Employer's 401(k) Match, FINRA

Retirement Planning and Savings Calculators

• Lifetime Income Calculator, DOL EBSA
• Social Security Benefit Calculator, Social Security Administration
• Tools and Calculators, Kiplinger’s (see the heading "Retirement")
• Compound Interest Calculator, U.S. Securities and Exchange Commission
  

Other Financial Literacy Resources

Understanding financial terms and implications and exactly how much money is needed to comfortably retire is the first step toward retirement security. 

Pension or Settlement Income Streams: What You Need to Know Before Buying or Selling Them, Securities and Exchange Commission (SEC) Investor Bulletin