- Pay yourself first – Set aside a portion of your paycheck for savings before paying for other expenses.
- Create an emergency fund – Life is unpredictable, so saving three to six months of expenses is a good rule. Here is where your income tax refund/next raise can go.
- Stick with your budget – This can be a good way to track how much you can save.
- If you have investments, diversify – It can be a good way to help weather market fluctuations.
Retirement savings tools
See how increasing your contributions on a monthly, semi-monthly or bi-weekly basis may affect your take-home pay. Retirement money is often tax-deferred so saving more may cost you less than you think.
My Interactive Retirement PlannerSM ― Set retirement goals, track progress and find ways to improve a retirement outlook.
Paycheck impact calculatorSM ― See how different savings rates will impact how much you take home, because often the money is tax-deferred. So, it may cost less than you think to save more.
More retirement savings strategies
This video can help you calculate and set aside what you might need for retirement.
More life stagesI'm just getting started | I've been saving & investing | I'm about to retire | I'm retired
Neither Nationwide nor its representatives give legal or tax advice. Please consult with your attorney or tax advisor for answers to your specific tax questions.