Develop a diversified savings plan

Savings should not be limited to retirement planning. It’s important to save for a down payment to purchase a home or vehicle and other items like uncovered medical expenses. Make regular deposits in an interest-bearing savings or money market account to cover these costs. And be sure to take advantage of employer sponsored benefit savings, such as retirement accounts and flexible spending accounts which help cover uninsured medical costs and lower the taxes you’ll pay on payroll income.