Don't let the feeling that you've started too late or fallen behind keep you from saving. Whether it’s increasing your employer-sponsored 401(k) contribution rate or adding an extra thousand each year to your IRA contribution, every little bit will make a difference.
Because most retirement accounts allow you to invest with pre-tax dollars, your savings have an opportunity for substantially more growth. And since taxes aren’t paid until you begin to withdraw your savings in retirement, you’ll likely be in a lower tax bracket.
The following example compares the growth of a $3,000 annual investment over a 30-year period in a taxable account to the same investment in a tax-deferred account like an IRA or 401(k), assuming an 8% average annual compounded investment return and a 27% marginal tax bracket.
Hypothetical illustration, not representative of the performance of any investment. Investing involves risks, including fluctuating returns and potential loss of principal
Your retirement goals will inevitably shift over time. What you envisioned at age 25 might be a world apart from the retirement you imagine at age 50. So make sure your retirement savings strategy changes as your goals change. Find out how our SummitView financial planning approach online planning solution can help track your progress towards your goals and notify you when changes are required.
This calculator will help you quickly estimate how much you’ll have saved when you retire, based on your current assets and annual saving rate.
Retiring early requires careful planning. Follow these tips when considering your options.
It can be difficult to know how much to save for retirement. Consider these investment strategies to help bolster your efforts.
Compounding interest can have a profound difference on an investor’s ability to build wealth. Add this power to investments that are already growing, and It can be like supercharging an engine.
In 2017, Americans gave more than $358 billion to charity with nearly three-quarters of that amount coming directly from individuals. And while much of these donations come in the form of direct cash gifts, more and more individuals are turning to planned.
IRAs are one of the most powerful retirement savings tools available to you. Even if you're contributing to a 401(k) or other plan at work, you should also consider investing in an IRA.
Investment and Insurance Products:
Are Not FDIC or any other Government Agency Insured Are Not Bank Guaranteed May Lose Value
© 2019 SunTrust Banks, Inc.
Equal Housing Lender. SunTrust Bank - NMLS #93471. Member FDIC.
SunTrust, SunTrust PortfolioView, SunTrust Robinson Humphrey, SunTrust Premier Program, AMC Pinnacle, AMC Premier, Access 3, Signature Advantage Brokerage, Custom Choice Loan and SunTrust SummitView are trademarks of SunTrust Banks, Inc. All rights reserved. All other trademarks are the property of their respective owners.
Services provided by the following affiliates of SunTrust Banks, Inc.: Banking products and services are provided by SunTrust Bank, Member FDIC. Trust and investment management services are provided by SunTrust Bank, SunTrust Delaware Trust Company. Securities, brokerage accounts and insurance (including annuities) are offered by SunTrust Investment Services, Inc., a SEC registered broker-dealer, member FINRA, SIPC, and a licensed insurance agency. Investment advisory services are offered by SunTrust Advisory Services, Inc., a SEC registered adviser. GFO Advisory Services, LLC is a SEC registered investment adviser that provides investment advisory services to a group of private investment funds and other non-investment advisory services to affiliates. Mortgage products and services are offered through SunTrust Mortgage, a tradename for SunTrust Bank, and loans are made by SunTrust Bank.
"SunTrust Advisors" may be officers and/or associated persons of the following affiliates of SunTrust Banks, Inc.: SunTrust Bank, our commercial bank, which provides banking, trust and asset management services; SunTrust Investment Services, Inc., a registered broker-dealer, which is a member of FINRA and SIPC, and a licensed insurance agency, and which provides securities, annuities and life insurance products; SunTrust Advisory Services, Inc., a SEC registered investment adviser which provides Investment Advisory services.
SunTrust Private Wealth Management, International Wealth Management, Business Owner Specialty Group, Sports and Entertainment Group, and Legal and Medical Specialty Groups and GenSpring are marketing names used by SunTrust Bank, SunTrust Delaware Trust Company, SunTrust Investment Services, Inc., and SunTrust Advisory Services, Inc.
SunTrust Robinson Humphrey is the trade name for the corporate and investment banking services of SunTrust Banks, Inc. and its subsidiaries, including SunTrust Robinson Humphrey, Inc., member FINRA and SIPC.