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Save and Invest Without Even Thinking About It

Save and Invest Without Even Thinking About It

May 20, 2019

Automate your retirement planning and wealth-building approach.

Build your emergency fund with automatic transfers. Practically any bank or credit union can arrange daily, weekly, or per-paycheck transfers of money from a checking account into a savings account, or split your incoming paycheck into percentages going to both accounts.

Try some apps.

Apps like Qapital subtly direct spare change from debit and credit card purchases into your savings account.1

Arrange per-paycheck salary deferrals.

Pay yourself first. Direct 10% or more of your earnings into your retirement plan if you can—your future self will thank you. Augment it with a tax refund or a bonus, if you receive one.

Ask your employer about an auto-escalation retirement plan. Your company’s plan may already offer this feature, which gradually increases your degree of retirement contribution over time, often by 1% a year.

Millennials are good savers.

As a Harris Poll found, millennial parents have a median retirement savings rate of 10% of their incomes, better than parents who are Gen Xers (8%) and baby boomers (5%).2


Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC.

LPL Financial Representatives offer access to [Trust Services through The Private Trust Company N.A.], an affiliate of LPL Financial. To the extent you are receiving investment advice from a separately registered independent investment advisor, please note that LPL Financial is not an affiliate of and makes no representation with respect to such entity. If you are receiving investment services out of a bank or credit union, please note that this financial institution is not a registered broker/dealer, and is not an affiliate of LPL Financial.

Not a Bank/Credit Union Deposit
No Bank or Credit Union Guarantee May Lose Value
Not Insured by any Government Agency

1 Fool.com, “3 Ways to Make Saving Easy and Painless,” September 15, 2017
2 NerdWallet.com, “To Save More for Retirement, Follow These Millennials’ Lead,” October 10, 2017

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