Saving for Retirement

If you're like most people, you may spend about 20 to 30 years in retirement. That's a significant amount of time where you'll want to make sure you have enough money to live the lifestyle you want and to make sure your savings outlive you.

If you're just starting your career, having a retirement plan may not seem like a priority, but it's actually the best time to consider your future because you have the luxury of time. If you've been working for awhile, it's not too late to get a plan working for you.

Build Your Plan Today

Our Planning for Your Retirement tool can help you develop a solid retirement plan in about 15 minutes. Or if you prefer, you can call one our experienced Investment Consultants at 1-800-345-2021 and we'll walk you through developing your plan.

Need more time to consider your plan?

Below are some of the questions you'll want to have answered as you develop your plan, and some tips to help you answer those questions.

How much could you have?

  • Take inventory of all your retirement savings accounts, Social Security or perhaps a pension plan.
  • Think about whether you'll continue working.
  • Consider income you might receive in other ways, such as from the sale of a home or business.

How much could you need?

  • Conventional thinking says you will need 70% to 80% of your pre-retirement income each year to maintain a similar lifestyle in retirement.
  • Consider major expenses that you might not have now, such as potentially higher health care or long-term care expenses.

How long could it last?
Two major factors that will impact how long your money will last include the following:

  • How much you withdraw from your savings each year.
  • The strategy you use for withdrawing your money.

How should you invest?
Choosing investments that help you balance risk and reward with help you earn money and preserve your retirement savings.

Explore Retirement Funds to find out what investments may be right for your retirement portfolio.

IRS Circular 230 Disclosure: American Century Companies, Inc. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with American Century Companies, Inc. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties.

This information is for educational purposes only and is not intended as tax advice. Please consult your tax advisor for more detailed information or for advice regarding your individual situation.
Past performance is no guarantee of future results. Investment returns will fluctuate and it is possible to lose money.

IRA investment earnings are not taxed. Depending on the type of IRA and certain other factors, these earnings, as well as the original contributions, may be taxed at your ordinary income tax rate upon withdrawal. A 10% penalty may be imposed for early withdrawal before age 59½.

Brokerage Services are provided by American Century Brokerage, a division of American Century Investment Services, Inc., registered broker/dealer, member FINRA, SIPC.