CONTACT US
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Craig Lundquist, MBA, ChFC®, CRPC®
VP of Wealth Management
651-773-2757
Kristin Becker
Senior Administrative Assistant
651-773-2821
Ideal Wealth Advisors
Located at Ideal Credit Union
8499 Tamarack Road
Woodbury, MN 55125
CRPC conferred by College for Financial Planning
January/February 2022
How Much Should You Save?
Determining how much you need to save is different for everyone, but here are a few general guidelines that apply to most people.
Your Emergency Fund
A major expense or a sudden job loss can devastate your finances if you’re not prepared. Money you set aside in an emergency fund can help pay for an unanticipated repair or medical bill or cover your living costs while you’re not working. Your goal should be to save 6-12 months’ worth of expenses in a savings or money market account that allows you quick, penalty-free access to your cash.Your Savings
The amount you save for a specific goal, such as a new car, a down payment on a house or a vacation, will vary, depending on what you’re saving for and when you’ll need the money.Your Retirement
The general rule is to save at least 15% to 20% of your income in a retirement account. Make sure you save enough to take full advantage of any company matching funds, at a minimum, and save more if you can.1-05200067
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
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