When it comes to planning for a secure financial retirement many people ask, “When should I start saving?” The answer is that it’s never too late, but it’s always better to start early and save regularly.
Saving early allows you to take advantage of the power of compound interest, in other words, earning interest on your interest. Saving regularly means a steady and systematic build-up of your retirement funds. If you invest in stocks, regular savings helps smooth out the day-to-day fluctuations in market prices. This is called dollar cost averaging.
Click here for an example of why saving early is so important.
If you haven’t started saving for your retirement, the time to start is now. If you are already saving, continue to do so. Sign up now to be a part of the new 403(b) program effective January 1, 2009. Enrollment forms must be returned to Kathy Martin, benefits specialist, in the Johnston office by the end of the day on November 26, 2008, in order to be effective with your January 15, 2009, paycheck.
Provider Fairs
It’s not too late to participate in the 403(b) provider fairs. The last two fairs are being held on November 18. One fair is being held at the Annunciation Parish Hall at 723 Elm Street in Coon Rapids from 4:30-5:30 p.m., and the other is in the ICN room at the Johnston office from 4:00-7:00 p.m. You are welcome to bring a spouse or friend and come and leave as your schedule permits.
Questions
Your 403(b) questions may be directed to Steve Jordan at ext. 14908 or Kathy Martin at ext. 14385.
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