MaineSaves Bulletin

April 2017

WHAT’S THE STATE OF YOUR FUTURE?

Harness the Power of Habit

Habits are hard to break.

For better or for worse, it’s hard to kick a habit. We all know this from experience, and study after study confirms it, too.

So, why not put the power of habit to work for you?

Take a step toward securing your future by investing in MaineSaves. The State’s voluntary retirement savings plan makes it easy to save, helping you start a good habit without much fuss.

  • When you invest in the plan, and make contributions on a regular basis (through payroll deductions), your money has time to grow. In contrast, if you put money into the plan only in fits and starts, you reduce the opportunity to benefit from compounding – that is, getting earnings on your earnings. Experts agree that compounding is the best way to grow your retirement savings.
  • Make it a habit to review your contribution election at least once a year to see if you can afford to increase your savings.Regular, small increases in your contributions are better than promising yourself that “one day” you will start saving.
  • Make it a point to keep your money in the plan. If you make a withdrawal from your account, you decrease your long-term earning potential.

See how easy it is to start your new habit.

  • Open your account, and begin to invest in the plan via convenient payroll deductions.
  • Each quarter, you’ll receive the MaineSaves Bulletin and the latest fund performance information.
  • Go over this quarterly information to see your savings grow.
  • Every so often, review your contribution level and investment allocation, to help ensure your savings will meet your retirement needs. (Most experts say you should do this about once a year.)

The earlier you begin to save, and the longer you remain invested in the plan, the more time your funds have to grow. So start saving as early as possible.

But it’s never too late to start, either. MaineSaves offers investment options that can help you get closer to your retirement goals, no matter your current situation. Let MaineSaves help you improve the state of your retirement.

Visit to learn more.

Division of Employee Health & Benefits

114 State House Station

Augusta, ME 04333-0114

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