Think big during America Saves Week,
February 25 – March 2
Saving Matters - February 2019
America Saves Week began in 2007 by the non-profit Consumer Federation of America to
Now’s the time to ENVISION MORE for your future!
As AIG celebrates its 100 years, we encourage you to plan for your 100. While living a long life was once relegated to a lucky few, today it’s increasingly becoming the norm, thanks to medical advances and healthier lifestyles.
Embrace the new longevity and create a savings plan that will cover you – even if you live to 100 or beyond.
The number of people who have reached their 100th birthday — called “Centenarians”— is growing rapidly and projected to reach over 750,000 by 2045.* Will you be a future member of the 100 club?
Benefits of participating in your employer-sponsored retirement plan
- Automatic savings: one of the easiest ways to save
You can have funds deducted directly from each paycheck to your retirement or savings account. It’s a convenient way to save because the money comes out of your pay before you get your paycheck, that way you’re not tempted to spend it. Plus, it adds up. Saving just $50 a month could add $600 to your savings in a year, plus interest.
- Tax advantages
Retirement plans let you defer income taxes until withdrawal. (Income tax is payable upon withdrawal and withdrawals before age 59½ may incur a 10% federal early withdrawal tax penalty.) This helps reduce the amount of your currently taxable income so you can save dollars for retirement that otherwise would have gone to pay taxes.
Are you saving enough? Could you save more?
During America Saves Week, review your current saving strategy and make sure you’re on track to meet your future goals. If you’re not sure, or just need a little guidance, your financial advisor can help you figure it out.