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Mark Twain said “Never put off until tomorrow what you can do the day after.” Procrastination is a common human trait that we all possess at certain times. When it comes to preparing for your financial future it might be difficult to understand the trust cost before it’s too late. Many of our Baby Boomer clients often say “If someone would have told me about retirement savings accounts earlier in my career, there is no telling how much I could have saved for retirement.” The earlier you begin saving the more time your investment will have to compound. Procrastination may result in never being able to catch up from missing this opportunity to start early. Visit our resource page for actual examples and calculators. Contact us today to start saving.
Did you know that you are receiving 2% of your highest average income for life for each year you contribute to the Oklahoma Teacher’s Retirement System? That is why your number of contribution years is more valuable than your total contributions in the long run. Your contributions are important, before you are eligible to retire under the 80 or 90 rule, because they are considered life insurance for your beneficiary(s). Remember, after 5 years of contributions you become eligible to receive a future lifetime benefit which could be a large percentage of your salary for life. Here is an example: 2% x 30 years = 60% of your pay for life. Go to the OTRS Portal today to estimate your future benefit.
Horizon Financial Services, Inc. and Oklahoma Teacher’s Retirement System are non-affiliated companies. Horizon Financial Services, Inc. is not employed by nor represents Oklahoma Teachers Retirement System
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