Saving money for the future is a good idea, but making a plan to save — and sticking to it — can be daunting while balancing work-life demands. In recognition of America Saves Week, February 22 – 26, we are highlighting tips and resources that can make it easier.
Saving for Retirement
The earlier you begin, the less money it will take. The AECOM Retirement & Savings Plan (RSP) makes it easy. Try to contribute at least 6% of your pay, so you can get the full company matching contribution. (The 2021 IRS annual limits are $19,500 for employee contributions and $6,500 for catch-up contributions for employees age 50 and older.)
- Start or increase your contributions
- Calculate how much you’ll need to save
- Are you contributing enough?
Saving for Future Health Care Expenses
With a Health Savings Account (HSA), you can set aside money for your health care expenses and save on taxes, too. Once your balance reaches $1,000, you can invest your HSA money and let it grow over time — like a 401(k) plan but for your health care expenses. You may be eligible to elect HSA contributions only when you enroll in a high-deductible health plan. (The 2021 IRS annual limits are $3,600 employee/$7,200 family and $1,000 for catch-up contributions for employees age 55 and older.)
- Who will pay for health care in retirement?
- Calculate how much you should save
- Making the most of your HSA at every life stage
Saving for Emergencies
Having an emergency fund can help you get by if something unexpected happens.
- Building an emergency savings fund
- 6 simple steps to jump start your emergency fund
- How much should you save for emergencies
Saving for a Home
Saving money to buy a home takes planning.
- Infographic: This way to a home of your own
- Guide to buying a home within your comfort zone
- Calculate the monthly mortgage payment you can afford
Saving for College
Saving for college can seem daunting, but there are lots of resources to help you.
- Get FREE personalized advice through Gradifi
- Create your game plan for funding college
- Estimate college costs and get a personalized savings plan
- Compare college savings accounts
Helping Your Children Save
It’s never too early to teach children the value of saving money.
Saving Tips and Tricks
Here are some more tips and tricks to help make saving easier.