What You Can Do to Boost Your Retirement Savings | Cleveland Bradley County Teachers Federal Credit Union

Are you worried about your retirement fund? Our team at Cleveland Bradley County Teachers Federal Credit Union wants you to know you are not alone.

In fact, many people in the United States have very little saved for retirement—or nothing at all. That’s why it’s important to make a commitment to saving for retirement.

Find Yourself With a Better Retirement Fund

While time is money when it comes to saving for retirement, that doesn’t mean that you shouldn’t start now. No matter what your age, make it a point this year to start developing stronger financial habits that can put you in a better spot come retirement.

An important piece of the puzzle when it comes to saving for retirement? A budget.

If you already have a budget in place, good for you! However, if you have yet to create a budget, now is the time. Take a look at one of our past blogs, Fall Into a Successful Budget, to discover tips on how to get started.

Make sure saving for retirement is a column or category in your budget. If you find you don’t have room for retirement savings in your budget, it’s time to do some cutting from your current budget.

Reducing your current household bills can also help you find money to save for retirement. Are you doing a load of laundry every day? Do you leave the lights on when you leave the house? Become more energy-efficient—you’ll help the environment and help save more for retirement. Win-win!

Finally, finding a second job can also help you to save more money for retirement. Especially with a teacher’s schedule, you can use your free time in the summer to help kick your retirement fund into high gear!

Take a look at some ways you can earn extra income:

  • Restaurant server
  • River rafting guide
  • Camp counselor
  • Tutor
  • Freelance writer
  • Summer school teacher

Are you ready to kick your retirement account into high gear? Contact Cleveland Bradley County Teachers Federal Credit Union today to learn about retirement fund options.