Quick Tips for Smart Savers
What’s the right age to start saving for retirement?
Experts suggest starting early, because it gives your money the most time to work for you. Even if you still plan to work for years, signing up for a work retirement plan now is a smart thing to do.
How much should I contribute?
Some people start with a modest amount and others take full advantage of the maximum contribution. Our online tools and calculators can help you find the contribution amount that’s right for you. Explore our calculators or log in to your account to see your current contribution amount alongside your suggested rate with our RetireSmartSM Ready tool.
Retirement seems far away. Shouldn’t I use my money for things that will benefit me right now?
Participating in a work retirement plan can give you two big benefits right now! Because the pre-tax money you contribute won’t count toward your gross income for the year, it lowers your taxable income. Plus, your pre-tax contributions are tax deferred. If you put that money in a savings or brokerage account you would have to pay taxes on the interest or dividends that year. With a retirement plan, your earnings remain in your account where they continue to grow. You don’t have to list them on your tax return until you withdraw them.
How do I get started?
It’s really easy. Create an account and enroll now. Or call your MassMutual retirement specialist at 1-800-854-0647.
When it comes to plans from previous employers, can’t I just leave the savings in my old employers’ retirement plans?
While you could do that, you may find that consolidating all your assets is a smarter approach. You’ll enjoy a single view of all your savings, find it easier to monitor balances and withdrawals, and have only one user name and password to remember.
Is it difficult to consolidate the savings from different work retirement plans?
No. In fact, your MassMutual roll-in specialist makes it easy. Our award winning team knows just what to do to make things simple and streamlined for you. We have a process that’s been enhanced by the feedback of people like you who have already consolidated their savings. Schedule a consultation online, or call your MassMutual roll-in specialist at
The information provided is not written or intended as specific tax or legal advice. MassMutual, its subsidiaries, employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to see advice from their own tax or legal counsel.
© 2018 Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001. All rights reserved. www.massmutual.com.