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On Target Financial
5301 SW 7th Street, Topeka, KS 66606
Phone: 785-272-5000
Fax: 785-272-6725
Joseph G. Prokop, CFP®, CRPC®
Website: www.ruontarget.com
January/February 2022
How Much Should You Save?
Determining how much you need to save is different for everyone, but here are a few general guidelines that apply to most people.
Your Emergency Fund
Money you set aside in an emergency fund can help pay for an unanticipated repair or medical bill or cover your living costs while you’re not working. Your goal should be to save 6-12 months’ worth of expenses in a savings or money market account that allows you quick, penalty-free access to your cash.Your Savings
The amount you save for a specific goal, such as a new car, a down payment on a house or a vacation, will vary, depending on what you’re saving for and when you’ll need the money.Your Retirement
The general rule is to save at least 15% to 20% of your income in a retirement account. Make sure you save enough to take advantage of any company matching funds, at a minimum, and save more if you can.CONTACT US
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Investment advisory services offered through Cambridge Investment Research Advisors, Joseph Prokop, Investment Adviser Representative. Cambridge and On Target Financial are not affiliated.
On Target Financial and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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