Participant Newsletters

Retirement in Motion

TIPS AND RESOURCES THAT EVERYONE CAN USE

Pre-retirees Less Confident about Retirement, Survey Says

If you are anxious about not having enough saved for retirement, you’re not alone. In a recent AARP survey of 1,500 middle-income workers between the ages of 40 and 59, just 48% say they’ve saved enough for a comfortable retirement. Nearly 30% don’t take advantage of the free employer matching contribution in their retirement plan, and 25% aren’t taking advantage of convenience features in their plans such as automatic paycheck deductions.*

Q&A

How can I boost savings once my kids leave the nest? For many couples, retirement planning takes on fresh importance once their children leave the nest, especially if they have put off savings during the child-rearing years. If this is your situation, think about directing a greater share of your income toward your retirement. It may be helpful to devise a strategy several months before you face an empty nest, figuring out how far behind you are in building your nest egg. Having a written budget is critical, as is auto-depositing your contributions. That way you’re not tempted to spend your increased income once the kids are launched.

Quarterly  Reminder

Check your tax withholding

The Tax Cut and Jobs Act of 2017 included several provisions that could affect the taxes you pay in 2018 and in the future. If you haven’t already done so, be sure to check with your HR department or benefits manager to verify that you are not under- or over-withholding federal and state tax payments.

Tools & Techniques

Planning  app can put you  on track

Most people spend more time planning for their vacations than they do their retirement. To get some ideas on how to plan for a more secure future, try a new interactive tool located at AceYourRetirement.org. It takes just three minutes to complete, and it will give you specific ideas on how to put your goals within reach.

Corner on the  Market

Basic financial  terms  to know

Compound Interest

Compound interest is the idea that the return you earn each year is added to your principal, so that your balance grows at an increasing rate. This should be the basis of every personal savings plan. To see the effect of compound interest, try the online calculator at moneychimp.com.

*Source: www.aarp.org. Op cit.

Kmotion, Inc., 412 Beavercreek Road, Suite 611, Oregon City, OR 97045; 877-306-5055; www.kmotion.com

© 2018 Kmotion, Inc. This newsletter is a publication of Kmotion, Inc., whose role is solely that of publisher. The articles and opinions in this newsletter are those of Kmotion. The articles and opinions are for general information only and are not intended to provide specific advice or recommendations for any individual. Nothing in this publication shall be construed as providing investment counseling or directing employees to participate in any investment program in any way. Please consult your financial advisor or other appropriate professional for further assistance with regard to your individual situation.