Small Increases Can Add Up

Small Increases Can Add Up

If your goals for saving aren’t realistic, you’re not as likely to stick to them, so start small. Try adding 1% of your salary to what you’re already saving. Then take some time to see how the increase fits before deciding whether or not you’re ready to try to save more.

One percent doesn’t sound like a lot, but over time it can make a big difference in your longterm savings. Whether retirement is right around the corner or many years away, the money in your Plan has the potential to continue to grow and earn income on the income generated by your contributions-a financial phenomenon called compounding.

Given the tremendous potential long-term payoff, many investors find it compelling to increase their savings by 1% as often as possible.

By adding just a few extra dollars a week to your Plan contribution, your savings can grow dramatically by the time you retire. With a little thought, you can find ways to easily increase your savings:

Consider these simple steps to help you grow your savings and achieve your goal of a financially secure retirement.

Start small: Keep your goal realistic

If your goals for saving aren’t realistic you’re not as likely to stick to them, so start small. Try adding 1% of your salary to what you’re already saving. Then take some time to see how the increase fits before deciding whether or not you’re ready to try to save more.

Take a good look at your spending

Track how much you spend for a month, then look for ways to free up some money for investing. It may not be hard to find a few extra dollars each week to contribute to your plan without feeling deprived.

Give your savings a raise

The next time you get a raise, consider investing the "extra" income in your retirement savings Plan.

Review your investment strategy

Your investment portfolio will serve you best if it mirrors your goals, financial objectives, and lifestyle.

Fine-tune your approach

Look at your mix of investments and decide whether you would be willing to accept more risk in part of your portfolio in exchange for potentially higher returns. Then take some time to review the investment choices available to you through your plan. Try to be as aggressive as you are reasonably comfortable with - even a small increase in returns can have a dramatic effect over the long run.

Keep up the pace

As your investment time horizon, comfort level with risk, and overall financial situation change over time, your portfolio needs to be updated regularly to keep pace with your life changes and goals. Be sure to review your portfolio once or twice a year to make sure it really reflects what’s important to you.

The time to make small changes is now, because small adjustments today may translate into big returns tomorrow.

You should consider the investment objectives, risks, charges and expenses of the investment options carefully before investing. The prospectuses/prospectus summaries containing this and other information can be obtained by contacting your local representative. Please read the information carefully before investing.

Mutual funds and investment options in a funding agreement offered through a retirement plan are long-term investments designed for retirement purposes. If withdrawals are taken prior to age 59½, an IRS 10% premature distribution penalty tax may apply. Money distributed will be taxed as ordinary income in the year the money is distributed. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than its original amount invested.

Neither ING U.S. nor its affiliated companies or representatives offer legal or tax advice. Consult with your tax and legal advisors regarding your individual situation.

Insurance products, annuities and funding agreements issued by ING Life Insurance and Annuity Company (“ILIAC”) One Orange Way, Windsor, CT 06095 , which is solely responsible for meeting its obligations. Plan administrative services provided by ILIAC or ING Institutional Plan Services, LLC. All companies are members of the ING U.S. family of companies. Securities distributed by or offered through ING Financial Advisers, LLC (member SIPC) or other broker-dealers with which it has a selling agreement.