Contributing a little more now can make a big difference later.

Watch it add up over time. Have you ever thrown your change in a jar and let it collect? Maybe you decided to cash it in one day and, much to your surprise, discovered that a bunch of nickels and pennies grew to $30. A little added up to a lot-and you didn't even miss it. The same can be true for retirement savings.

Contribute a little. Think of your retirement plan as a kind of collection jar. With each paycheck, you set aside some money to invest. By tossing just a little more change in the jar, you might be surprised by how it can add up.

Contributing more gives you the potential to earn more on your investments over time. Why? Because as your account balance grows, you're able to make money on what you've invested as well as on the earnings from those investments. This is known as compounding-and it can make contributing to a retirement plan more effective than just stashing money in a jar.

Let's say a participant contributed $15,600 to a retirement plan account over 30 years. That's just $10 a week. Through compounding, that amount could more than quadruple to $65,119. Double the contributions to $31,200 ($20 a week), and the account could equal $130,237 in 30 Years.*

Looking at these two ending balances, what's the difference in the weekly contributions? Just 10 bucks, the difference between $10 or $20 a week.

A little adds up over time as illustrated in this example.



Contribute a little more. With so many financial responsibilities, you may feel that you can't find any extra money to set aside, even $10 more a week. But often there are ways to do it. Here are a few strategies that may help:

• When you sit down to pay your monthly bills, see whether you have an extra $5 or $10 that you could give yourself in the form of an increased contribution to your retirement plan account. 
• Make a list of your monthly expenditures. Are there any surprises? Find any spending you can cut out and then try to save it instead. Financial software and online tools help simplify budgeting. 
• Next time you get a pay increase, consider giving a portion of it to yourself in the form of larger contributions to your retirement plan account.
• Visit AmericanFundsRetirement.com, type "SaveEarly" in the search box to use an interactive chart to see how compounding can work on your behalf.

How much would you miss $2 a day? Just a little more invested each week could make a big difference at retirement.

Investing money through your employer's retirement plan is an important first step. The next step to think about is increasing your contribution gradually. While a little can go a long way, a little more has the potential to go even further.

By increasing contributions just $10 a week-$2 each workday-the account could earn an additional $25,000 over 20 years. So you see, even small increases in your contributions can help you get closer to your savings goal.

If you are a minister or Church-paid employee, contact Liz Walters or Jan Couch at 423.559.5109 for more information, or Kelly Miller, our Agent of Record with Resource Horizons at 1.800.477.2344. She is a great professional, financial resource who will be happy to talk with you. Together, you can put together an investment strategy that can help you meet your goal.

*This example assumes your investment earns an 8% average annual return, compounded weekly. The return is shown for illustrative purposes only and is not intended to predict the return of any investment, which will fluctuate with market conditions. Your actual results may vary, and regular investing does not ensure a profit or protect against loss in a declining market. Typically, money you take out of your plan is subject to ordinary income tax and, if applicable, to an additional 10% federal tax penalty on early withdrawals. Please consult your plan's financial professional for any specific questions you may have about your situation.