Four Financial Numbers You Should Know
This week, Craig Siminksi, of the Equity Design Group, gives us some helpful tips “by the numbers.”
Daily life is full of numbers, and some matter more than others. Here are four that could help you understand and potentially improve your financial situation.
Retirement Plan Contribution Rate
What percentage of your salary are you contributing to a retirement plan? Making automatic contributions through an employer-sponsored plan is a convenient way to save for retirement, but this out-of-sight, out-of-mind approach may result in a disparity between what you need to save and what you are actually saving.
There is no magic number, but one common guideline is to save 10% to 15% of your salary. If you start late, you may need to save even more. If that seems like too much, you should at least …
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Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 20 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.
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