National Retirement Security Week
When it comes to saving for retirement, there is never a better time than today to assess your progress toward meeting your retirement goals. With Oct. 20 through Oct. 26 designated as National Retirement Security Week, the opportunity is right in front of you. It is important to begin saving today for retirement – or increase your contributions – if you aren’t meeting your goals. This week is dedicated to showing you different ways to meet your objectives.
If you save just $10 per week in a 403(b)Tax Deferred Account or Texa$aver 457 Deferred Compensation Plan for 40 years and earn an average rate of return of 7 percent, you will have over $100,000 in your account. That just shows the power of tax-deferred savings! Over 30 years, adding $25 to your $100 biweekly contribution can increase your account from $264,327 to more than $330,409, assuming you earn 7 percent. Take advantage of National Retirement Security Week and review The Texas A&M University System Retirement Programs Booklet while evaluating your retirement plan.