Here are some simple ways to help you
with retirement readiness:
• Sign up for a savings plan at work: If you're
not enrolled in your plan, enroll today.
Participation in an employer-sponsored
retirement plan can help reduce your tax-
able income while building your savings.
Contact your benefits administrator or
human resources department with ques-
tions on how to get started. Enrollment can
be the first step toward considering your
own retirement savings goals and setting
yourself up for a greater chance at success.
• Resist the temptation to borrow: We all
know that things come up and that in the
middle of an unexpected event, you may
be tempted to borrow against your retire-
ment plan savings. This is especially true
during a down market. Resist the tempta-
tion. When you borrow against your plan,
you may miss out on potential market
• Save more as you make more: There are
probably times in your life when you may
receive extra cash from a tax refund, a
bonus, a salary increase or some other
pleasant surprise. Consider increasing your
contribution every year if it's possible and
saving any extras.
When you hit the maximum contribu-
tion level in your plan, a financial profes-
sional can help you find the right place to
put additional savings.
• Save at least up to the company match:
Many employers will match your contri-
butions up to a certain percentage. Take
advantage of these offers. Talk with your
benefits administrator to learn more about
what's available in your plan. When you
don't take full advantage of a company
match, you're leaving money on the table.
• Review investments with a financial
professional: Schedule a retirement plan
check-up at least once a year to assess
where you stand against your personal
retirement savings goals. It can help you
stay on track and identify any changes that
need to be made in order to achieve your
"When it comes to saving for your retire-
ment, don't hesitate," says Cornelio. "The
sooner you start saving your money in an
employer-sponsored plan or other retirement
account, the better."
For more tips and retirement resources,
visit www.lincolnfinancial.com .
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