Save for Your Retirement - Add $50,000, $100,000 or even $500,000 to Your Retirement Savings

Your personal savings are one of the four building blocks of a financially secure retirement along with your company's retirement plan, your IRA and Social Security. The amounts you will receive from those last three sources are somewhat out of your control. Social Security benefits are based on your wages, your IRA contributions are limited and your employer's retirement plan may limit what you can contribute. However, you have complete control over your personal savings.

Determining exactly how much you need to save for retirement can be complicated. To do the perfect calculation, you need to know your level of expenses during retirement, your future tax rates, the future returns on your assets and ultimately how long you are going to live. With all these uncertainties, the thought of doing the calculation can be daunting.

Having More is Better than Having Less

Even without an exact calculation, it is probably safe to assume that you want to accumulate more funds so you can enjoy the type of retirement lifestyle you want. Here is one simple idea that may give you some motivation to do something you know you should be doing - saving more.

Saving Early and Often is Under Your Control

The keys to accumulating a larger retirement nest-egg are to start early, save often and earn competitive returns on your funds. If you are 35 years old and plan to retire at age 65 (30 years to save), you can accumulate and additional $250,000 by saving $300 per month (assuming an earnings rate of 5%). Use the calculator to how much you need to save each month to have more when you retire.

Interest is compounded monthly. This calculator is to be used for estimation purposes only. The financial institution is not responsible for its accuracy and the results are not guaranteed.

Start Saving Today Automatic

There is no easier way to save than with an automatic transfer from your Integra Checking account into your Savings account each pay period.

This allows a set amount of money to move into your Savings Account each month without you having to remember to do it. Over time, your Savings balance will build to a large nest egg.

You can set up your recurring automatic transfer through your Integra's BankAnytime online banking service. It's easy to set up, and BankAnytime offers many other convenient features.

You may also set up your recurring automatic transfer at any Integra Banking Center. If you have any questions, please call an IntegraCare representative at 1-800-467-1928.