Talk about one of your short-term financials goals. Write it below, then think about what could be done in each of the areas to locate savings dollars to make the goal a reality. Record your ideas and indicate who will follow up. Here are the key things to consider when making your decision. The interest rate will vary depending on the risk level involved, the length of your commitment and the institution.
Some options require a minimum payment to open an account.
Read about savings options in this newsletter. Then use the enclosed work sheet to help you compare and contrast the savings products available to you locally. The American Savings Education Council's new Ballpark Estimate work sheet is a simple tool to help you take the first step toward determining your retirement financial needs. By projecting Social Security benefits and earnings assumptions on savings, Ballpark provides a low-anxiety way to get started. After completing this exercise, most people will probably want to do some additional retirement planning with the help of computer software, more detailed work sheets or a financial planner.