CFO Jimmy Patronis: Solidify Your Savings Plan During National Retirement Security Week

TALLAHASSEE, Florida, Oct. 21 -- The Florida Department of Financial Services issued the following news release:

With recent reports indicating that approximately one-quarter of non-retired Americans have no retirement savings, Chief Financial Officer (CFO) Jimmy Patronis offers 4 top tips to save for the future. Reports also show that working with a financial planner or adviser to assist in retirement planning can be an important step in ensuring financial success in your golden years.

CFO Jimmy Patronis said, "Saving for retirement is vital to a solid financial future and it's alarming that roughly forty-four percent of non-retired adults say their retirement saving is not on track. It's never too early to start retirement planning and by making saving a priority now, you can build a nest egg to allow for more financial stability later in life. I encourage all Floridians to research their retirement options and work towards securing a bright financial future today."

4 Tips for Retirement Planning

1. Don't let your savings be an afterthought. You'll be more likely to save money if you make it a priority for yourself and your family. Sit down and figure out how much you'd like to save for retirement and then map out your retirement plan.

2. Solidify your retirement plan. By setting specific savings goals you can take away some of the fear of saving for retirement and turn it into an attainable amount of money later. Consider speaking with a licensed and trusted financial adviser to help build your plan.

3. Research types of retirement accounts. Whether it is a 401(k) through your employer or a Roth IRA that you contribute to monthly after-tax. Do the research to find the best account for your retirement goals because not all savings accounts are the same.

4. Save more and save often. Savings can help you achieve any financial goal, put away a little today for a brighter tomorrow. Keep track of everything you spend for a week. You might be surprised what you're buying, and what you can do without.

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About CFO Jimmy Patronis

Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida's Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida's firefighters, and ensure the state's finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).