National Retirement Security Week, the third week of October, is an observance that encourages you to take control of your financial future. National Retirement Security Week is more than just another day on the calendar. Instead, it's an essential event that promotes saving, planning, investing, and taking charge of your financial future.
This initiative, started by the U.S. Congress, highlights the importance of comprehensive retirement planning. During National Retirement Security Week, many organizations provide resources and guides to help you form a more secure future. It's a week-long lesson on investments, saving, financial literacy, retirement plans, and more!
Another cornerstone of National Retirement Security Week is financial education to help individuals understand financial terms that may impact their situation as they work toward their goals. Some examples of financial terms include:
- Compound interest
- Risk and reward
- Tax-advantaged, tax-free, and tax-exempt
- Investment strategies
National Retirement Security Week is not only for individuals; employers, too, can use this opportunity to educate their employees about the benefits of participating in workplace retirement plans. Employers can help employees better understand their retirement savings plans by offering resources and workshops. You can keep an active role in your financial future by investing in your employer-sponsored retirement plan. Here are some other ways to participate in National Retirement Security Week:
- Review how much you have saved for retirement.
- Increase your retirement savings contributions.
- Meet with a financial professional.
- Consider a Solo 401(k), SEP IRA, and other retirement savings vehicles if you’re a business owner or self-employed.
- Explore annuities as a retirement savings asset class.
- Start financial planning by meeting with a financial professional.
- Update your financial strategy.
- Review your risk tolerance, time horizon, and portfolio holdings.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial professional prior to investing.
This article was prepared by Fresh Finance.
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