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For plan participants in their 30s, there are a lot of demands on their money. Maybe they’re starting a family or perhaps they just purchased their first home. So what conversations should you have with them about retirement planning?
Experts say it’s important for people in their 30s to realize they don’t have to accomplish all their savings goals at once – but they should make saving for retirement a priority. Evaluating the annual contribution in their 401(k) is a good start. Maybe they contributed only 3 percent when they were in their 20s, but now may be the time to increase the percent they are saving.
It’s National Save for Retirement Week. It’s a great time to consider how you could help plan participants in their 30s build their retirement savings.
What other considerations should savers in their 30s think about? Let us know in the comments below.