Sponsored content contributed by AOC Business Partner: Nationwide
In April, Nationwide celebrated National Financial Literacy Month by offering resources to help you spring forward in your financial journey. It’s the perfect opportunity to establish fresh financial habits and grow your financial knowledge.
Whether you are just starting your work career, approaching or living in retirement, there are always ways to improve your financial literacy. National Financial Literacy Month was about helping you improve your financial know-how.
Nationwide and their Supplemental Retirement Plan offer the following tips to help you grow your financial literacy at any age.
College students and early career
- Plant the seeds of savings in your budget
- Cultivate an emergency fund that can cover 6 months of living expenses
- Begin saving for retirement early, and nurture your savings with small increases each year
Midcareer
- Trim your budget as needed to stay on track for your goals
- Evaluate your savings options to determine whether they’re still appropriate for you
- Regularly review your financial goals and track your progress
Nearing retirement
- Start planning a retirement budget that accounts for changes in income and expenses
- Grow an emergency savings fund that can cover 1 to 2 years of expenses
- Log in to your Nationwide Retirement Plan account
- Use My Income & Retirement PlannerSM to help you plan a withdrawal strategy
- Work with your Retirement Specialist to help your retirement plans blossom at no additional charge
Retirees
- Maintain but adjust your budget as needed
- Consider additional income sources, especially in the early retirement years
- Revise your withdrawal strategy as your financial needs change
- Keep tabs on legislative changes that may affect you
- Complete estate planning to ensure your assets are distributed according to your wishes
These are just a few tips that workers and retirees found helpful. Nationwide can help you put together a financial literacy plan that works for you and your family.
Plant the seeds for a prosperous financial future.
For more information and resources visit Nationwide’s Financial Literacy Month webpage.