It’s never too early to start thinking about your retirement goals. When it comes to retirement, you must consider your future self. What do I want my retirement to look like? Am I on track to meet my goals?
In recognition of National Retirement Security Month, we’re highlighting what you can do to start saving for your future retirement.
1. Make a Plan
It can be difficult taking the first step toward saving for your retirement if you don’t know where to begin. The CalPERS website has a financial planning checklist to help you get started, as well as a video series covering important topics such as your CalPERS pension, personal savings, and health care costs. You can also read our most popular publication, Planning Your Service Retirement (PUB 1) (PDF), and set yourself up for the retirement you deserve.
2. Consider Deferred Compensation Plans
When you’re trying to save money, balancing priorities can be difficult. We offer a variety of deferred compensation savings plans, allowing you to defer income from your paycheck before taxes. You can also start saving for your child’s or grandchild’s education using ScholarShare529, California’s tax-advantaged education savings program. Review your options and see if there’s a plan that can help you attain your savings goals today.
3. Take a Class
Are there questions holding you back from taking that first step toward saving for your retirement? Consider taking one of our classes and learn how you can get started. Whether you’re early in your career or nearing retirement, CalPERS offers online classes to help you navigate your path to retirement. Visit Member Education to review all our educational opportunities.