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time to save
It's never too early to save for your future.
posted in: Financial Wellness
by Christy McFarland

The early bird gets the worm

You know you need to plan for your future, but what does that mean? What does that involve? How do you know if you’re on track?

When you have more questions than answers, it might seem easier to do nothing at all.

But, something this important deserves attention. Planning for your future doesn’t have to be overwhelming. Start with small steps today.

By the numbers

According to the March 2015 COUNTRY Financial Security Index1, 44 percent of Americans feel they are not in control of when they will retire. Nearly half (49%) said not saving enough could be their greatest setback on their path to retirement.

Having a plan in place and saving early and often is important and can help you stay on track to the retirement you’ve always imagined.

Take a look at Katy and Joe

Katy started investing $4,000 a year when she was 25, and then stopped after 10 years.

Joe waited until he was 35 to start saving.

He contributed $4,000 every year for the next 30 years and contributed $84,000 more than Katy.

At age 65, Katy’s nest egg is $147,266 more than Joe’s.

So while you might be tempted to put off saving for your tomorrow, taking small steps today could end up paying off in the long run.

The purpose of this hypothetical chart is to show the potential benefits of starting an investment plan early. This chart assumes contributions were made on January 1 of each year and that the rate of return will continue unchanged for all years shown. This is not likely to occur, and actual results may be more or less favorable than those shown. Investment results shown are for illustrative purposes only and do not represent or imply the actual performance of any specific investment. The results do not reflect a tax rate nor do they reflect any fees and expenses that may apply to investments.

The COUNTRY Financial Security Index was created by COUNTRY Financial and is compiled by GfK, an independent research firm. Surveys were conducted using GfK’s KnowledgePanel TM, a national, probability-based panel designed to be representative of the general population and includes responses from approximately 1,000 U.S. adults for national surveys. The margin of sampling error for a survey based on this many interviews is approximately +/- 3 percentage points with a 95 percent level of confidence.

[1] The

COUNTRY Financial Security Index was created by COUNTRY Financial and is
compiled by GfK, an independent research firm. Surveys were conducted using
GfK’s KnowledgePanel TM, a national, probability-based panel designed to be
representative of the general population and includes responses from
approximately 1,000 U.S. adults for national surveys. The margin of sampling
error for a survey based on this many interviews is approximately +/- 3
percentage points with a 95 percent level of confidence.

[1] The

COUNTRY Financial Security Index was created by COUNTRY Financial and is
compiled by GfK, an independent research firm. Surveys were conducted using
GfK’s KnowledgePanel TM, a national, probability-based panel designed to be
representative of the general population and includes responses from
approximately 1,000 U.S. adults for national surveys. The margin of sampling
error for a survey based on this many interviews is approximately +/- 3
percentage points with a 95 percent level of confidence.

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