Most of us look forward to the time when we can stop working and start focusing entirely on enjoying our lives. But when you finally reach that point, will you have saved enough so that you can live comfortably and do everything you’ve dreamed of? Will you be healthy enough to enjoy your retirement? Here are a few things you can do now to make sure that your golden years are everything you’re hoping they’ll be.
1. Save for the future.
The best step you can take is to contribute at least 6 percent to your 401(k). Generally, for every dollar you contribute, Intuit matches $1.25 to your 401(k), up to 6 percent. If you’re able to, consider contributing up to $18,500 per year, the maximum pretax contribution for 2018. Enroll or update your elections now. Another smart step is to enroll in the Employee Stock Purchase Plan (ESPP). By participating in the ESPP, you can set aside 1 percent to 15 percent of your total pay and invest it in INTU shares—at a 15 percent discount!
2. Take advantage of tax-free opportunities.
By enrolling in the medical plan with the Health Savings Account (HSA), you can set aside money—tax-free—for present or future medical expenses. The Health Care Flexible Spending Account (FSA) saves you money by letting you pay for eligible expenses with tax-free dollars. And the Roth 401(k) gives you the opportunity to get tax-free income in retirement.
3. Live within your means.
Just because you have money now doesn’t mean you should splurge on every shiny new thing that crosses your path. Start setting aside money for retirement when you’re in your 20s and 30s—and increase the amount over time—so your golden years won’t be tarnished by financial struggles.
4. Focus on your total well-being.
Our Well-being Hub, Well-being for Life Program and Retrofit weight loss program can help you stay physically fit, while our Well Minds programs can help you handle life’s challenges, build resilience and ease your stress. If you make healthy living a habit now, it’ll be that much easier as you get older. After working all of those years, you’re going to want to have enough energy and vitality in your retirement to follow your dreams, whether that involves sailing around the globe or just spending time with your grandkids.
5. Get a financial game plan in place.
Create a budget that works for you and make sure you’re setting money aside for your future. How much should I be setting aside? Great question! Intuit gives you free access to industry-leading tools as well as financial education and counseling services through the legal insurance plan to help you create a plan that works for you.
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