Making Saving for Retirement Simple
Set Retirement Income Goal….The most important decision people make in saving for retirement is the decision to begin saving. Determining a future retirement income goal helps you select the appropriate level of savings for today! Most people will need a minimum of 75% of their current income in retirement.
Choose Appropriate Investments... Investment options in the AFLC Retirement Savings Plan address the varied needs of plan participants. For those with limited investment experience or interest in managing their individual portfolio you have an array of “Asset Allocation” funds to choose from. Simply choose the allocation fund that best matches your individual temperment for investment risk and begin making contributions. If you want to manage your own portfolio you have the ability to choose from a wide range of individual funds both domestic and international. If you have questions about saving for retirement, please contact the AFLC office at 763-545-5631.
Monitor Progress Annually... Each year review progress to your retirement income goal. You may need to make changes to the amount you are contributing or the type of investments you are using. Seek the help of a financial professional if you need assistance in this process.
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