Maximize your savings
While it's not possible to predict the market or control all the events that shape your life, you can take charge of your retirement savings. A few key strategies may help you make the most of your savings throughout your life.
Saving a small amount of money now can grow into a significant amount over time through the power of compounding interest.
Apply simple strategies to help build up your retirement savings.
Understand how much income you may need in retirement and how to find out whether you're on track to meet your retirement goals.
Contribute as much as possible to your retirement and short-term savings accounts, especially as you get closer to retirement. Learn about your account options and the contribution limits for each.
Learn the pros and cons of continuing to work during retirement, including the implications for health care, Social Security, and pension payments.
Make sure your savings last the rest of your life. Learn how your asset withdrawal rate and life expectancy can affect your income strategy.
To help take full advantage of your savings in retirement, you can try to reduce your taxes. Learn what is and isn't taxable so you can keep more of your hard-earned money for yourself.