There are three basic steps to make sure your savings can help you meet your future needs:

  1. Pay yourself first – set aside a portion of your paycheck for savings before paying for other expenses.
  2. Create an emergency fund – Life is unpredictable, so saving three to six months of expenses is a good rule. Here is where your income tax refund/next raise can go.
  3. Focus on retirement – If your employer offers matching to all or even a portion of your contributions, take advantage. Industry experts suggest saving 10-15% per pay period toward retirement.1

Retirement savings tools

See how different savings amounts could work for you. Check out these tools:

My Interactive Retirement PlannerSM ― Set retirement goals, track progress and find ways to improve a retirement outlook.

Paycheck impact calculatorSM ― See how different savings rates will impact how much you take home. Because often the money is tax-deferred. So, it may cost less than you think to save more.

More retirement savings strategies

This video can help you calculate and set aside what you might need for retirement.

[1] “Americans think you need $1.7 million to retire comfortably – here’s how much you need to save each month to get there by 65,” (Oct. 20, 2022). How much to save monthly to have $1.7 million in retirement (

Neither Nationwide nor its representatives give legal or tax advice. Please consult with your attorney or tax advisor for answers to your specific tax questions.