Do you wonder if you’re taking the right steps towards a successful retirement plan? Here are some tips that can help you make sure you’re on track.

Know your starting point

• What are the balances in your existing 403(b), 401(k), IRA, or savings accounts?

• Do you own other assets which may be convertible to cash in the future?

• What is your current income level?

• Do you currently have or follow a household budget?

• Does your employer offer a retirement plan?

• What are you currently contributing toward retirement?

• Are you taking full advantage of any possible employer match?

• How much experience do you have with investing?

• What is the current asset allocation of your investment portfolio?

Set realistic goals

• How long do you have to save before retirement?

• Do you know how much money you need to save for retirement?

• How much risk are you comfortable taking with your investments?

• Do you expect major future changes to your income or expenses?

• How much can you realistically increase your contributions?

Avoid Pitfalls That May Reduce Savings Today and in the Future

• Set aside and maintain an emergency fund for unexpected expenses.

• Do not wait until late in your earnings years to start saving—start early.

• Once you start saving, continue the habit, even if it is a small amount.

• Avoid withdrawals during earning years, including loans and hardship distributions.

• When you leave an employer, rollover your assets—don’t cash out your account.

You do not have to do this on your own

• Discuss financial goals with your spouse and family.

• Review potential budget changes and opportunities to increase contributions.

• Read and learn to understand your account statements.

• Utilize professional advice from your investment providers when it is available.

…

Explore the various tools and resources you have access to through Envoy.