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August 23, 2016
Do your savings stack up?
The typical American spends 20 years in retirement. But only 21 percent of workers feel they are saving enough for the long stretch. To make those years healthy and happy, it’s key to plan ahead and save. If you have not begun saving yet, don’t panic. It is never too early or too late to start. Here are five basic steps to get you started, no matter what your current savings.
1. Start with a goal. Here is a quick calculator to see how much you need to save.
2. Start small and slowly increase the amount you put aside.
3. Start adding multiple money sources. Explore 401k, IRAs, Social Security and others.
4. Start to adjust your lifestyle. Living on less income later won’t be such a shock.
5. Start saving now. A few years makes a big difference.
Be sure to talk to your employer about the savings and retirement options that may be available to you. There is no better time than now to become savings-savvy.
It’s time to guard your financial well-being. Your Employee Assistance Program (EAP) has the support and resources you need to stay on top of personal money matters. We are available 24/7, 365 days a year. Click here and go to Magellan Member Resources – Topics & Tools – Financial Fitness) or call 1-855-437-3486.  

   24/7 NURSE  advice line:


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