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Retirement Savings Stage 1:  Just Starting Out (ages 20s &30s)

The early years of retirement savings can make a huge impact on your overall savings because the earlier you start, the longer you can let your savings compound. Your biggest task now is to save as much as you can save and invest your savings prudently. It’s never too early to run through a retirement savings analysis and set some goals. The majority of your saving may take place in your retirement plan at work, but you'll also want to supplement this savings with IRAs and non-qualified savings.

   Julie is a recent grad in a new position. She’s not sure if she should start saving for retirement now because it is so far away.  She called her advisor for advice and, together, they went on-line and did the Retirement Road Test. She quickly realized the impact of waiting a few years to begin saving. After seeing the advantage of starting early, Julie started participating in her company’s retirement plan on her next paycheck. She also started building up some savings in mutual funds through an automatic monthly investing program.

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MEMBERS® Mutual Funds and MEMBERS® Variable products are not deposits in, or obligations of, and are not guaranteed by, the credit union or other financial institutions and are not federally insured.



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