Why Saving Matters

Saving for your retirement has the potential to make an immediate and a lasting impact for your future.

Regardless of your age, the thought of saving for retirement – especially with all those monthly bills and other expenses to pay – might seem too daunting. But the reality could be far different, and the results could be well worth the effort. Here's why:

Let's say you earn $35,000 a year, but don't have any money saved for retirement. As the chart shows, if you begin to contribute 6% of your annual salary ($2,100 a year, or less than $100 per paycheck) to your employer-sponsored retirement plan – and your employer offers a match of 50% of contributions up to 6% of your salary – you could have more than $10,000 saved within three years! If you continue contributing the same amount, your savings jump to more than $18,000 in five years, nearly $43,000 in 10 years and almost $120,000 in 20 years.

So even if saving for retirement is not top of mind, doing so may prove beneficial and help provide some peace of mind by the time you actually start thinking about retirement. To learn more, call your local Mutual of America representative today.

This hypothetical example is for illustrative purposes only and does not represent any actual investment performance, price or yield. This illustration assumes an annual salary of $35,000 and a beginning balance of $0. It also includes an employer match of 50% of contributions up to 6% of salary, assumes no increase in earnings and has an annual rate of return of 6%. Investment returns are not guaranteed. Your actual return may vary significantly from that shown, and the total amounts saved in this example may or may not be sufficient for your retirement needs.

You should consider the investment objectives, risks, and charges and expenses of the variable annuity contract and the underlying investment funds carefully before investing. This and other information is contained in the contract prospectus or brochure and underlying funds prospectuses and summary prospectuses, which can be obtained by calling 1-800-468-3785 or visiting mutualofamerica.com. Read them carefully before investing.

Mutual of America's group and individual retirement products are variable annuity contracts and are suitable for long-term investing, particularly for retirement savings. The value of a variable annuity contract will fluctuate depending on the performance of the Separate Account investment options you choose. Upon redemption, you could receive more or less than the principal amount invested. A variable annuity contract provides no additional tax-deferred treatment of benefits beyond the treatment provided to any qualified retirement plan or IRA by applicable tax law. You should consider a variable annuity contract's other features before making a decision.

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