The views expressed in Economy Matters are not necessarily those of the Federal Reserve Bank of Atlanta or the Federal Reserve System.

Editor's note: Throughout Economy Matters, "Southeast" refers to the six states that, in whole or in part, make up the Sixth Federal Reserve District: Alabama, Florida, Georgia, Louisiana, Mississippi, and Tennessee.

Financial Tips from the Atlanta Fed: Planning Your Retirement

April 1, 2021

photo illustration of a pile of colored question mark-shaped blocks

Nota del editor: Este artículo también está disponible en español.

April is Financial Literacy Month. This month—dedicated to educating all people—aims to help individuals plan for a secure financial future. Setting short-, medium-, and long-term personal and financial goals is an important first step. While working, it is essential for everyone to build and routinely monitor their savings and investment plan to provide for a stable source of income in retirement. These tips and resources can help you develop your investment plan.

  • Begin planning for retirement by asking these questions:
    • How much can I save?
    • How much risk can I tolerate?
    • How much income will I need?
    • When will I be able to retire?
  • This calculator and these tips will help you answer these important questions.
  • The U.S. Securities and Exchange Commission’s website, investor.gov, can show you the basics of risk and federally insured deposit accounts that can protect some of your savings.
  • Make an informed decision about your optimal age to retire. The Social Security Administration’s guide can assist you with this very personal decision.
  • Read important information from the Consumer Financial Protection Bureau about protecting your pension and your home in retirement.