Personal Finance

Excuse: I have too many expenses to save for retirement

It’s common to hear excuses like “I have too many expenses” as a way to justify not saving for retirement.

Think about it.

If you find it difficult to cover expenses now, imagine what it could be like when you’re 80 and haven’t saved enough money for your retirement. Paying bills then could be very difficult, especially as costs of living increase steadily.

Change your mindset.

In the red text bubble, the electric bill is required, but saving for retirement is optional.

In the green text bubble, both the electric bill and retirement savings are required.

It will be easier to pay your electric bill in retirement if you save while you’re working.

You’ll still have to pay your electric bill and other expenses in retirement, so let’s change our mindset!

A little could go a long way.

Try to increase the amount you save little by little and look at your check to see what happens to your take-home pay. With traditional, pre-tax deductions, you might not even miss the money taken out of your check!

Retirement might come faster than you think. Take advantage of Texa$aver today to help prepare yourself for your retirement.

Do you have a plan?

Request an appointment with a Texa$aver Representative by calling toll-free (800) 634-5091 or emailing You can also visit the Texa$aver table at Annual Enrollment fairs across the state.

Source: ERS Employee News (July 2014)