Every financial success story starts with a good plan.

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Managing your money takes intention.

Starting early is the best way to maximize your retirement investments, but planning isn’t always as straightforward as it sounds. Our agents  have dedicated their careers to helping people from all walks of life cut through the confusion. If you feel overwhelmed, know that you aren’t alone.

Whatever your situation, we’re here to help you reconcile your current finances with your future goals—beginning with how you operate day to day. For example, we know that fewer than 40 percent of adult Americans say they have a budget and keep track of their spending, and 29 percent have been unable to set aside any money for retirement. Nearly a quarter (24.8 percent) have less than $100 in their checking and savings accounts combined.**

For those and other issues, we’re here to help. Whether you’re struggling to save for retirement, or ready to take your plans to the next level, we’ve developed and honed some general best practices that are easy to understand, and wise to follow.

Establish an emergency fund.

It’s ideal to save six to eight months of living expenses, set aside someplace safe and accessible. Don’t trust yourself with cash? Set up automatic transfers from your checking account to a savings account. Even $25 a month can pile up into a helpful amount during an emergency.

Protect your future income.

Since your income potential is probably your greatest asset, it’s smart to protect it with life, health, and disability insurance ***. That way, if something unfortunate happens during your prime earning years, you or your loved ones will still have income.

Maximize an employer’s money match.

If your employer offers a 401(k) match, contribute at least enough to qualify for the full match—usually anywhere from 1 percent to 6 percent of employee contributions. Any money you contribute is deducted pre-tax from your paycheck, so it’s a lighter hit on your take-home pay than you might expect. And you can always roll it over into an annuity to guarantee you have an income during retirement.****

Prioritize and eliminate debt.

Look at any debts you’ve accumulated—credit cards, car loans, mortgages, and student loans—and start systematically paying them down. Since credit card interest rates can run as high as 24%, you might want to start there first.

Take advantage of tax-efficient tools.*

There are many tax-advantaged ways to save money. Look into IRAs (traditional or Roth), 401(k)s, and tax-deferred annuities to save for retirement. For college, 529 savings plans may be an option †, or you can capitalize on a Whole Life Insurance policy that accumulates tax-deferred cash value while providing insurance protection.

When it comes to financial strategies, there are no set paths. It all depends on your individual situation. 

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You can’t put a price on feeling secure.

No matter your budget, we’ve got a life insurance policy that fits your needs.

Term Life Insurance

Get affordable protection for a set period of time, at a set premium—and renew without a health exam. Or convert to a permanent policy and build cash value.

Whole Life Insurance

You can protect your family while earning cash value to put toward college tuition, or to supplement retirement income as your needs change.‡

Our tax calculator can help illustrate the value of a tax-deferred savings strategy.

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A solid strategy to keep you in the money.

To make the most of your money, you’ll need to learn what to do to make it grow, continuously. These articles are full of helpful tips to achieve just that.

Avoid Debt

If you’re a millennial, your parents may have struggled with debt—and you might too. These tips can help you minimize debt and build savings.

Make Money Plans

Your financial needs are very different from those of other generations. We have options to help you build a strong financial strategy.

Use Savings Bonds

Remember savings bonds? Because mature bonds no longer earn interest, it’s key to cash them in ASAP to benefit from their maximum value.

Give to Charity

These tips can help you make the most of your tax-saving charitable deductions by helping you give (and save) as much as possible.

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We're here to help.

Neither New York Life Insurance Company, nor its agents, provides tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions.

** Jack Holmes, “More than Half of Americans Reportedly Have Less Than $1,000 to Their Name,” Esquire, January 12, 2016.

*** Products available through one or more carriers not affiliated with New York Life Insurance Company, dependent on carrier authorization and product availability in your state or locality.

**** Before rolling over the proceeds of your retirement plan to an Individual Retirement Account (IRA) or annuity, consider whether you would benefit from other possible options such as leaving the funds in your existing plan or transferring them into a new employer’s plan. More information is available from your Registered Representative.

† Offered through Registered Representatives of NYLIFE Securities LLC, Member FINRA/SIPC, and a Licensed Insurance Agency

‡ Accessing cash value of a life insurance policy will reduce death benefit. Loans Accrue interest charges.