Many companies offer employee benefit packages that include retirement plans. This benefit can be a valuable tool in your overall financial plan. You can also choose to invest in a private retirement plan, which can be an attractive option for spouses who have to change jobs frequently as they move with their service member.
Knowing how much to invest or even setting financial and retirement goals can be hard if you aren’t sure where to start. “Savings Fitness: A Guide to Your Money and Your Financial Future” is a printable and online resource distributed by the Department of Labor that can help you set realistic and attainable financial and retirement goals.
“Savings Fitness” focuses on teaching you the skills to plan on your own. It includes a step-by-step process for developing a savings fitness plan that includes the following:
- Worksheets you can use to determine your financial goals based on your income and family needs
- Resources you can refer to later, and next steps you can take to ensure you reach your retirement goals
You don’t have to know everything about investing and retirement to begin planning. Start small and seek financial advice from your installation's Personal Financial Management Counselor. These providers offer information on budgeting, saving and investing and can be a great resource if you are just starting out. Visit MilitaryINSTALLATIONS to search by installation, state or program to find the information relevant to you. Select 'Personal Financial Management Services' under the 'Select a program or service' drop-down menu and your installation or postal code to find a point of contact.