Saving for Retirement: Evaluate Your Goals Retirement means different things to different people. You must evaluate what will impact your retirement goals and what you hope your retirement will look like.

Things to Consider

What do you want to do after you retire?

Where do you want to live?

Would you be able to stay in your existing home?

Will you want to move to a warmer climate?

Will you be alone, with a spouse, with other family?

Would you prefer a retirement community?

Your Future Plans Estimates suggest that retirees will need 70% of their pre-retirement earnings to maintain their standard of living. This can vary, depending on your retirement goals—travel, hobbies, starting your own business.

Ways to Save

401(k)

Roth IRA

Traditional IRA

Annuities

Planning Tips

Start early!

Invest for the long term

Don’t cash out your 401(k) when you change jobs

Don’t borrow against your retirement plan unless absolutely necessary

Supplement retirement accounts with mutual funds, savings accounts, and more

Cut expenses

Delay retirement

Invest aggressively