Alma
Mid career and catching up
Alma is 47 and earns $43,000. She has recently finished paying off loans that the she had taken from her account to help her daughter pay for college and has not always been able to save while repaying her loans. She is contributing 2% now, but she has some catching up to do. Alma takes an
e-learning workshop to learn about saving and investing. She also creates a retirement plan using the
myPlanSM Retirement Quick Check. Based on what she learns, Alma decides to increase her contribution to 5%.
By the time she is 65, Alma could have a Savings Plan balance of: $286,839
