It’s never too early—or too late—to start retirement planning. In fact, now is the perfect time to start researching retirement savings account options and working to save for your retirement because today’s income can be used to fund tomorrow’s goals. Your own goals should be the basis for your plans, and it’s important to remember that planning is a process, not an event.

Here are three suggestions to get you started thinking about retirement strategies:

  • Think about the future. Since it’s your retirement planning we’re talking about, all the retirement strategies you evaluate must begin with your own goals in mind. When do you plan to retire? What do you plan to do when you retire? Answering these kinds of questions helps you determine how much money you will need to save. For example, if you intend to spend your retirement traveling the world, you will need to save significantly more money than if you plan to stay at home.
  • Know your options. Do a little research on retirement strategies, either online or with a financial planner. From 401(k) plans to stocks to IRAs and more, there are a variety of different retirement planning tools available today. However, you may not be making the most of the options you already have, so think about gathering together your most recent financial statements and meeting with a financial planner about how things are working for you. It probably makes sense to revisit and re-evaluate your plans on a regular basis—at least once per year—and make adjustments for changes.
  • Pay yourself first. Consider the fact that looking out for your own future enables you to take that much better care of others who may be depending on you, either now or in the future.

Even before you have your formal retirement plan in order, you can make more of your money available for use toward your chosen retirement strategies simply by being more value-conscious about your everyday banking choices. Online banks like Ally Bank usually offer the most competitive interest rates because we don’t have the higher overhead expenses of traditional banks.

Ally Bank is committed to making saving as easy, secure and rewarding as it can be. You can open and fund any account with any amount, whether it’s an Online Savings Account, Money Market Account, one of our CDs or even an Interest Checking Account. You get rates that are among the most competitive in the country, and we don’t charge monthly maintenance fees. Learn more at or call live, 24/7 customer support at 877-247-ALLY (2559) today.

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