The sooner that a habit of saving is established the easier it will be to achieve your goals. That being said it is never too late to start. Take realistic, meaningful steps to get to where you need to be.

It is recommended you save 10% of your annual household income over your career for retirement planning. Other goals like education funding need to also be considered and planned for. Your savings rate should be targeted to allow you to reach your goals while having a current lifestyle that you enjoy. Harvest Future Financial can help you create a targeted savings plan to make sure you are saving enough.

There are many different types of investment accounts that can be opened. Your access to the account and how it is taxed depends on the type of account you are investing in. Below are some common retirement accounts and explanations of how they work.


401(k) and 403(b)



Traditional IRA




Roth IRA