Want the retirement of your dreams? Save now.

Please forward to KPERS members

Want the Retirement of Your Dreams?
You Need to Save Now.

We all dream about retirement. It’s different for everyone. Grandkids in the park. Going places we’ve never seen. Even canoeing with old friends. Will we have enough, though?

For the kind of retirement you "dream of," it’s going to take more than just your KPERS and Social Security. How much more? Some experts recommend saving 10-15% of your income while working. If you can’t do that, start small and increase when you can, like on an anniversary date or if you get a raise. Remember, small amounts can make a big difference over time thanks to the magic of compound interest. How much money do you need to retire?

Ready to save?

To start saving on your own, check with your employer about savings options where you work. They might have a 403(b) plan or be affiliated with a deferred compensation plan, like KPERS 457. If your employer doesn’t offer those, you can opt for a personal retirement savings plan like an IRA.

If you’re already saving, great job! Consider increasing your contribution, even just a little. It could turn your retirement dreams into reality.

KPERS - How Does It Work?

KPERS is a fiduciary, putting its members’ interest first. In addition to a lifelong retirement benefit, KPERS also protects your income while you work with life insurance, disability and death benefits.

During your career, you contribute 6% of your pay to KPERS. And your employer contributes, too. Then we invest the money to pay you a monthly benefit when you retire.

If you’d like to dive into more detail, visit our Members section of kpers.org. You’ll find helpful tips to be prepared for retirement. Choose the option for your KPERS group or click “Not Sure?” for help finding yours.

For now, know that KPERS will be here when you’re ready.

Why You Need a System for Your Money

Do you find yourself asking “where did all my money go?” Or do you feel a pit in your stomach when logging in to your bank account? Maybe student loan payments starting again has you just scraping by.

It doesn’t have to be this way. You just need a system.

We have systems to keep us safe when driving - think stop signs and speed limits. Teachers use behavioral systems in classrooms to keep order. A system for your money keeps you on solid financial ground. We’re talking about a budget.

Budgeting is a tool that can bring you peace of mind and help you be prepared for whatever life throws your way.

The 50/30/20 method is a great way to manage your money. Read how to start with a 50/30/20 budget here. Then decide on your tracking method (spreadsheet, paper and pencil, budgeting app, etc.). Lastly, set a date to check in on your budget regularly, like when you get paid or at the start of a new month.

Before long, you’ll be wondering what you did without a budget!

Ready to learn more money management tips? Visit kpers.org to find helpful resources for your Career Stage and Finances.

Questions?

Email: kpers@kpers.org