Every financial success story starts with a good plan.

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Managing your money takes intention.

Creating a personal financial strategy takes planning. Our agents have dedicated their careers to helping people from all walks of life meet their goals. If you feel overwhelmed, please know you’re not alone—and it’s never too late to start.

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.

Cover your family’s cash needs.

Towards the end of your career, the income potential you’ve reached is probably your greatest asset, so it’s smart to protect it with life, health, and long-term care insurance.*** That way, if something unfortunate happens before you retire, you or your loved ones will still have income to cover things like mortgage payments and credit card debt.

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-advantageous ways to save money. Talk with us about getting the most out of your IRAs (traditional or Roth), 401(k)s, and tax-deferred annuities to save for retirement. If you’re helping out with your grandchildren’s college expenses, you may be able to get a bit more out of a 529 savings plan.†

If you want to make sure you have an income throughout retirement, you can roll your savings into a Guaranteed Lifetime Income Annuity

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—to cover short-term cash needs like mortgage payments.

Whole Life Insurance

Get permanent coverage to help your family pay for final expenses such as medical bills and funeral costs.

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 need to learn what to do to make it grow, continuously. These articles are full of helpful tips to help you do just that.

Stay Up on Social Security

As Social Security rules change, you might need to shift filing strategies to ensure your benefits during retirement.

Make Money Plans

Your financial needs are likely different now than they have been in the past. 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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  • Neither New York Life Insurance Company, nor its agents, provides tax, legal or accounting service. Please consult your own tax, legal, or accounting professional before making 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