Already Saving for Retirement: Are you on track?

If you're regularly saving for your retirement, you're already on your way to securing your future. But how do you know if you're saving enough to make your dreams for the future become reality?

Ask yourself if your dreams are the same as they were five, 10, or even 15 years ago. You might be surprised how your dreams have changed over time. With your dreams in mind, a financial advisor can help you re-examine your current retirement savings strategies.

• Are you building your retirement income using diverse sources?
• Do your investments reflect your risk tolerance and the amount of time you have left before retirement?
• Have you defined specific savings goals for new purchases or expenditures during retirement, such as a second home or travel?

Perhaps your income has changed, or you've taken on additional expenses over recent years. How will this affect your income needs in retirement? As you revisit your financial needs in retirement, consider the following tools to help you reach your goals in time.

• Tax-deferral. A 401(k) or Traditional IRA won't tax your contributions-just your earnings when you withdraw. Also consider a Roth IRA, which requires after-tax contributions but allows for tax-free growth over time.
• Employer-sponsored plans. Contribute at least as much as your employer's matching percentage to increase your pre-tax savings.
• Mutual funds and stocks. Depending on your risk profile, you may want to select investments that have a greater chance of long-term growth and appreciation.
• Annuities. Annuities offer tax-deferred growth potential in an account that guarantees a payment at or during retirement.

The best way to help keep you on the path to your ideal retirement is to regularly revisit your goals and dreams. With our collaborative Dream > Plan > Track >^® approach to financial planning, a financial advisor can help you adjust your plan to fit your changing short- and long-term needs, and then track progress toward your goals.