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Your savings style

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The way you view saving money influences how you choose to save. Do you fall within one of these saving styles?

The planner

Planners enjoy preparing for the future. They use all the tools available to them, read their statements and aren’t afraid to jump right in and take charge. While not everyone is as enthusiastic about their savings, adopting some of the habits from this style can help you reach your retirement goals.

The secure saver

Secure savers understand the importance of saving. But they often contribute only what their plan suggests because they’re not confident in their ability to make investment decisions. If this sounds like you, the tools on this website will help increase your knowledge and your confidence in making these decisions.

The avoider

Most avoiders live for today and avoid making decisions for their future. Avoiders may not understand that the sooner they start saving, the less they’ll need to save overall.

If their employer offers contribution matching, avoiders may not take advantage of it and will lose this part of their compensation. While it’s normal to be nervous about making investment decisions, thinking about the future will prevent unnecessary stress later in life. Use the tools available to become familiar with your retirement savings options.

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Next lesson: How emotions impact your investments