We share some tips to help your retirement savings journey, like starting younger and finding matches.


They say that it is never too early to start saving in your employer’s retirement program. Although this may sound scary, it is incredibly important to have a solid plan for your future. The financial decisions that you are making now can have an impact on your financial stability and endeavors in the future. Frisch Financial Group is here to help guide you to save for retirement and throughout your retirement.

Tip #1- Start Saving

Along with all of your other financial responsibilities, it can seem overwhelming to add retirement savings on top of that. However, you don’t want to regret not starting to set money aside for retirement at an earlier age. Many people have the misconception that they will be able to depend on social security. Unfortunately, with the unpredictability of the future of social security, you should set aside your own funds in addition to possible social security funds. Similarly, do not rely solely on your employer to fund your retirement because there are few that still provide pensions. Even if you are included in the few that will receive a pension from your employer, it would still be smart to have savings of your own for the future. Just because you didn’t start saving as early as your first paycheck doesn’t mean that you can’t start saving now.

Tip #2- Make the Most of Your Time

For those of you that are younger in age, then time is on your side. You can potentially be more aggressive in your financial investments like stocks and equities and risk-taking because you will see many business cycles as you mature through adulthood and near retirement. If you are closer to the age of retiring, the allocation often decreases for investments such as stocks and equities but it increases for other investments like bonds and fixed income.

Tip #3- Find Your Perfect Match

In terms of participating in a 401(k), 403(b) or other corporate retirement plan, you should be contributing toward one if you work for a company that does offer a plan. However, if your company matches what you deposit, then you need to be benefiting as much as you can financially. You should maximize the amount that will allow for the maximum matching of funds. If you are not participating in this process then you are leaving funds behind that your company is offering you. You can also contribute over and above the matching amount, to increase your retirement savings even faster.

Although there are factors that you can take advantage of for your financial future, it all boils down to planning ahead for retirement now. We at Frisch Financial Group are here to help you plan for retirement in any way that we can, whether you plan to retire five years from now or fifty. We are located in New York City, Long Island, Westchester and Tampa, Florida where we serve the surrounding areas.