Hierarchy of Savings VehiclesFinancial Management Planning for Retirement
By: Clayton Johnson
What savings account should I use? How much should I be saving? Do I have enough in emergency savings? I regularly hear these questions from clients and the answer depends on a variety of factors. Every situation is different, and it often takes professional help to understand what type of savings account deserves your next available dollar. With 2022 just around the corner, now is the perfect time to update your savings plan. After all, how effectively you save can be a significant factor in the success of your financial life plan.
You can use this simple infographic to learn what savings vehicle – from company retirement plans to IRAs and 529 plans – should receive your next available dollar. This infographic can provide a good starting point for your emergency savings needs.