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Finding Extra Dollars

With so many financial responsibilities, you may feel that there isn’t a lot of wiggle room in your budget for increases in retirement savings. Here are a few suggestions to help make it work:

Pay yourself first.

Prioritize your retirement savings. The money you contribute to your retirement account comes out of your paycheck pretax. That means you can pay yourself before you pay anyone else.

Save your Raises, Bonuses, and Tax Refunds.

Next time you get a pay increase, give a portion of it to yourself in the form of a larger contribution to your retirement account.

Cut Unnecessary Expenses.

Belong to a gym you never go to? Pay for premium cable channels you don’t watch? Eliminating these expenses could free up some cash.

Give Yourself Some Credit by Using Credit Wisely.

Paying off credit cards or car loans can reduce your monthly payments and feel almost like receiving a pay raise.

Create a Budget.

This will help you see areas where you can cut costs and then save that same amount instead. Online tools can help you simplify the task of budgeting.

When you find extra dollars and redirect them into your retirement plan, it may have a significant impact on your retirement savings.   See the chart below for details.




if invested for 25 years with a 6% annual rate of return

Shop around for a better cable TV plan



Skip the name-brand coffee



Shop for a lower credit card interest rate*



Lower your car insurance premium*



Refinance your mortgage*



*only if appropriate in your specific financial situation. Please carefully consider all fees, terms and conditions of a new arrangement and consult with your own tax and financial advisor as needed.

FOR ILLUSTRATIVE PURPOSES ONLY. This hypothetical illustration is not intended as a projection or prediction of future investment results, nor is it intended as financial planning or investment advice. It assumes a 6% annual rate of return and investment of earnings with no withdrawals. Rates of return may vary. The illustration does not reflect any associated charges, expenses or fees. The tax-deferred accumulation shown would be reduced if these fees had been deducted.

For more information, Contact your MCF Financial Consultant, today!

Hunter Nighbert

Financial Consultant



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MCF Advisors, LLC (“MCF”) is an SEC-registered investment adviser. Please remember that past performance may not be indicative of future results.   Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by MCF), or any non-investment related content, made reference to directly or indirectly in this presentation will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this presentation serves as the receipt of, or as a substitute for, personalized investment advice from MCF.  To the extent that a reader has any questions regarding the applicability of any specific issue discussed herein to his/her/its individual situation, he/she/it is encouraged to consult with the professional advisor of his/her/its choosing.   MCF is neither a law firm nor a certified public accounting firm and no portion of the webinar content should be construed as legal or accounting advice.  A copy of MCF’s current written disclosure statement discussing our advisory services and fees is available upon request. If you are an MCF client, please remember to contact MCF in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing / evaluating / revising our previous recommendations and/or services. The scope of the services to be provided depends upon the needs of the client and the terms of the engagement.