Tuesday, April 10, 2018

It’s never too soon to start planning for retirement

Did you know that 2 million workers in Washington state don't have access to a retirement plan at work? Studies show that it's best to save for your retirement as early as possible. Even a few dollars a month can make a big difference 20, 30, or 40 years down the road.

Washington state residents at any stage of life can look for a retirement plan at the state’s new retirement marketplace. Small businesses and individuals can find a low-cost plan that will help them save for retirement.

Not sure how much you should save each month? The National Retirement Planning Coalition can help you calculate what you need to save based on what stage of life you are in at RetireOnYourTerms.org. The site features life-stage specific resources and tools to assist Americans achieve their long-term financial goals.

Other resources from the insurance commissioner: