Money Mistakes You Don't Have to Make

Money mistakes can happen at any age — whether you’re negotiating your first job offer or planning your retirement. The good news? With a few simple steps, you can gain control of your financial future starting today.
Ready to reach your goals? Here’s how to be financially savvy no matter where you are in life: 
In Your 20s:
Start saving. Compound interest means the earlier you begin, the larger your nest egg will be. Steady saving could add hundreds of thousands of dollars to your retirement.

Beware of credit cards. If you decide to use a credit card, embrace timely monthly payments so you don’t rack up too much debt.
In Your 30s:
Avoid overspending. You may want a bigger home or car because it feels like you can afford it, but watch out for lifestyle inflation and try to stick to what you need.
Protect yourself. Ensure you have life and health insurance policies to safeguard your family. Manage your retirement savings with an investment plan and create an emergency fund. 
In Your 40s:
Leave your savings alone. It might be tempting to borrow money from your retirement plan, but remember that you’d likely be hit with a 10% early withdrawal penalty.
Don’t assume your retirement is set. Take a realistic look at what you’ll receive from Social Security, Medicare and your retirement savings. If the monthly amount isn’t enough, consider ramping up your efforts. 
In Your 50s and Beyond:
Don’t put off estate planning. Consider a health-care proxy, a power of attorney and a will. By thinking ahead, you can save your loved ones time, stress and money.
Continue to save. If you get a late start, don’t give up. Even if you put away just 5 to 7% of your paycheck from ages 50 to 66 (the legal retirement age) — you’ll be doing your future self a huge favor.
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​Have questions about your financial future? Reach out to discuss your long-term goal

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