In My 20's and 30's

Young adults face the exciting task of learning how to manage spending and saving within the constraints of their income levels. Laying the right foundation at this stage is the key to future success.

The time to start is now! Here’s how:

• Begin building assets—Get in the habit of saving at least 10% of your income.
• Establish an emergency fund—A good guide is at least three months of salary.
• Up your contributions—Increase your contribution to your employer’s retirement plan every year and every time you get a raise.
• Open an IRA—Make the maximum allowed contributions every year.
• Plan for your children's education—Establish a tax-advantaged Education Savings Account or 529 savings plan to help pay future college expenses.
• When you borrow, do it wisely—Avoid high-interest credit and pay off credit card debt monthly.

At every life stage, a Wealth Management client advisor can help you stay on course.