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Small Change, Big Savings

See how giving up just a few everyday items can help you save big.

 

Small Change, Big Savings

Select how many of each item you could give up and then see how it all adds up!

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Select the number of years over which you will give up the item(s) and invest the resulting savings. View Disclaimer and Assumptions for more information.
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Select the investment return earned on the amounts you save. View Disclaimer and Assumptions for more information.
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Based on investing this monthly amount and assuming [INVESTMENT_RETURN]% growth over a [YEARS_TO_RETIREMENT]-year period.

Total savings

/month

You’ve found out how much you
can save – now use it.

Your savings list

Total savings over 5 years:

$0

$0 a month

Your 457 Deferred Compensation Plan may be the difference between an adequate retirement and the retirement you want.

Your 457 Plan – Save for Your Future

You control how much you contribute and how you invest

Make convenient paycheck contributions

Tax advantages – delay taxes until you withdraw

No early withdrawal penalty regardless of age – unique to 457 plans

An IRA complements your employer retirement plan – save for long-term goals with tax advantages and flexibility.

Your IRA – Take Your Savings to Another Level

Add to your retirement income or use for college expenses or a new home

More investment options

Tax advantages, including Roth IRA tax-free earnings

Don’t let investment decisions intimidate you! Consider how you approach your ICMA-RC administered retirement plan. Which of these three options fits you best?

1. Build your own portfolio
  • Choose from a variety of individual funds. Get help through Guided Pathways Fund Advice
  • Gives you the most control but most complex to manage
or
2. Keep it simple and diversified
or
3. Have a professional do it for you
  • Choose ongoing professional management – Guided Pathways Managed Accounts
  • Opt out at any time

Contact your ICMA-RC representative or Investor Services to help you understand your options.

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Disclaimer and assumptions

Assumptions

Contributions

Savings are assumed to be added as regular, after-tax monthly contributions into a savings account.

Any contribution limits relating to a specific savings account are ignored. The calculator assumes all contributions can be saved without additional tax or fees.

Investment returns

Investment returns are assumed to be consistent for the duration of the savings period.

Items

The costs of the everyday items are estimates and do not necessarily represent the exact cost to you if you were to give up the item, at the specified frequency, as represented in the calculator.

The cost of each everyday item shown in the calculator is assumed to remain the same for the duration of the savings period. The effects of inflation on the cost of the item are ignored meaning the increase in savings is shown in today’s terms.

Investment period

When calculating how much extra you could save, it is assumed your investment period ends at age 65.

icma-rc/3.0.12r5