A Year-End Review

By Nevin Adams, EBRI

Nevin Adams

This is the time of year when many people both look back at the year just past—and ahead to the next with a fresh perspective. It’s also that time of year when many make lists.

So, whether you’re looking to make some New Year’s resolutions, or just looking to improve your overall financial situation, here are 10 things to check off your 2013 list—and to get your 2014 list off to a strong start.

 

  1. Deal with debt (see Savings Resolutions for the New Year).
  2. Establish a savings goal for retirement (see Estimate “Ed”).
  3. Save for retirement—at work, or on your own (see Saving for Retirement Outside of Work).
  4. Save early so that your savings can work for you (see The “Magic” of Compounding).
  5. If you do have a retirement plan at work, make the most of it (see Making the Most of your Retirement Plan).
  6. Maximize your savings—see if you’re eligible for the Savers’ Credit (see Credit Where Credit is Due).
  7. See if a Roth 401(k) makes sense for your situation (see To Roth or Not?).
  8. Know how much you’re paying for your retirement savings (see Shedding Some Light on your Workplace Retirement Plan Fees).
  9. Keep an eye on your retirement savings investments (see Are Your Savings Investments Over-weighted?).
  10. Don’t forget that you may have other important savings goals as well (see College “Education”–Saving For College).

Of course, a good place to start—any time—is to Choose to Save.® You can find a wide variety of tools and resources—including the popular and widely recommended BallparkE$timate—at www.choosetosave.org[1]

If you are interested in, or working on, issues of financial literacy or savings education, you’ll want to check out $avings Account$, a free monthly update from the American Savings Education Council (ASEC) on the latest research and updates on new (and old but relevant) tools, as well as keep you up-to-date on various events, conferences, and symposiums relevant to ASEC’s Mission: To make saving and retirement planning a priority for all Americans.  You can sign up online here.

Notes


 

[1] Organizations interested in building/reinforcing a workplace savings campaign can also find a variety of free resources there, courtesy of ASEC.  Choose to Save® is sponsored by the nonprofit, nonpartisan Employee Benefit Research Institute Education and Research Fund (EBRI-ERF) and one of its programs, the American Savings Education Council (ASEC). The website and materials development have been underwritten through generous grants and additional support from EBRI Members and ASEC Partner institutions.

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