When to get started? A savings to investing checklist
1. PRIORITIZE YOUR FUTURE
- Life is hectic, but find time to prioritize your financial future.
2. HAVE A SAFETY CUSHION
- Keep a cushion of at least 3 months of expenses for emergencies that may require cash on hand.
3. PAY DOWN HIGH INTEREST DEBT
- Interest rates on loans can charge way more than your cash earns – particularly today when cash "under your mattress" is earning close to 0%. So pay those high interest loans down as soon as you can.
4. GET SAVING
- Start saving; a good rule of thumb is to get in the habit of putting away at least 15% of your income every year that can go towards retirement and investing accounts.
5. MAX OUT YOUR RETIREMENT ACCOUNTS
- If your employer offers one, contribute to a 401(k), 403(b) or 457 retirement plan. And if your employer matches, make sure you take full advantage.
NOW YOU ARE READY TO START INVESTING!
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