Saving for the Future¹

Saving money helps you achieve your goals. Establish a budget, manage debt and plan for  st8.fm/3steps

Save for the future by learning about basic savings accounts, retirement accounts, and how to make compounding interest work for you. Use this calculator to help determine how much you should consider saving to meet your financial goals.

Health Insurance

Are you happy with your current health plan? Health status, premiums, deductibles, and even regulations may change over time. Be sure your health care coverage meets your needs. Take steps to reduce premiums with wellness discounts that may be available to you. And if you're on Medicare, consider options for a Medicare Supplement that's right for you.

Life Protection

Life insurance is the foundation of financial planning and security. It helps your family recover from financial risks and unexpected costs and lets them plan for tomorrow.

Thinking about financial protection and retirement can seem overwhelming, but as your life changes, so does your financial situation. Key life events such as marriage, moving or buying a home, children, job changes and retirement are important indicators that signal changes that might need to be made.

Disability Insurance

Car insurance? Check. Home insurance? Check. But have you protected one of your most valuable assets? Your paycheck

Among Americans’ top financial concerns is maintaining one’s standard of living in the event of a serious illness or accident. Disability insurance may help address this concern.

Liability Insurance

Safeguard yourself in case an accident results in injuries to someone or a loss to their property. It's possible that your primary policies may not be enough to protect you or your business. A  State Farm liability insurance policy may provide the additional liability coverage you need  to protect your financial future.

¹ State Farm Bank, F.S.B., Bloomington, Illinois (“Bank”), is a Member FDIC and Equal Housing Lender. NMLS ID 139716. The other products offered by affiliate companies of State Farm Bank are not FDIC insured, not a State Farm Bank obligation or guaranteed by State Farm Bank, and may be subject to investment risk, including possible loss of principal invested. The Bank encourages any interested individual(s) to submit an application for any product(s) offered by the Bank. We also encourage you to obtain information regarding the Bank’s underwriting standards for each type of credit or service offered by visiting statefarm.com® or by contacting the Bank at 877-SF4-BANK (877-734-2265). If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

Product availability may vary by state. Please contact an agent for more information.

“We could not be more thrilled about the relationship we are building with State Farm and their dedicated agents,” said Barry Stowe, chief executive officer of Jackson Holdings LLC. “Jackson and State Farm are both committed to helping consumers prepare for the risks they may face in life, and that includes increasing their readiness for life after work. We have been serving customers for more than 150 years combined. We look forward to working together to provide quality products to consumers who want and need to protect their financial futures.”

Although State Farm has traditionally offered fixed annuity products, the addition of a select group of Jackson’s industry-leading variable and fixed index annuities will allow authorized State Farm agents to introduce a more robust suite of annuity products to consumers.

“Our goal is to help people live life confidently, and an important component of that is helping people grow their savings, then position those savings to last a lifetime,” said Joe Monk, senior vice president, Financial Services for State Farm “As a top provider of annuities in the country, Jackson brings a proven track record of strong product offerings, solid risk management, consistent financial strength and award-winning service. The addition of these annuity products positions State Farm agents to help customers in more ways.”

Jackson and State Farm are both members of the Alliance for Lifetime Income, a nonprofit 501(c)(6) organization formed and supported by 24 of the nation’s leading financial services organizations to create awareness and educate consumers and financial professionals about the importance of protected lifetime income.

“As a founding member and current co-chair of the Alliance, we believe it is critically important for our industry to work together to solve a significantly pressing social issue — millions of Americans are retiring every year without adequate financial security, and they are genuinely concerned about outliving their savings,” Stowe said. “This new relationship with State Farm is a prime example of how collaborating with others in our space, particularly those who share the same vision to alleviate our country’s retirement crisis, can increase Americans’ access to critical products that can help protect their income for as long as they live.”

More and more baby boomers are discovering the benefits of shared housing in their golden years. After all, more than a third of baby boomers - the generation moving into retirement age - are unmarried. Single boomers are also overwhelmingly female - just like Blanche, Dorothy and Rose, and just like three real world women from Pennsylvania.

Karen Bush, Louise Machinist and Jean McQuillin met in early adulthood. Their lives followed the usual trajectories: marriages, children, careers and houses.

“All of us owned our own houses. We each lived independently-comfortably, modestly, but securely,” Louise says.

However, children grew up and moved away, marriages ended, and soon the friends found themselves in their 50s, living alone, and facing retirement. That’s when Karen had an idea.

“I was happy living the way I was,” Karen recalls. “But I thought when I did retire, I could see myself becoming isolated.”

Retirement comes with risks, and adjusting to life without a paycheck can be challenging. It can also be lonely. “Many retirees face a lack of community, a lack of people around during the day or evenings,” Karen points out.

Early in 2004, Karen turned to Louise and asked if she would go in on a major investment with her: a house. But not just a house, a home they would live in together.

Louise was game and pulled Jean into the conversation. “We identified what we’d want, in terms of geography, culture, educational opportunities, hobbies - all sorts of things,” Karen says. “We had remarkably similar lists.”

“The punch line,” Louise says, “was ‘Why wait?’” Three months later, they closed on a new, co-owned house.

“It was ridiculously fast,” Jean agrees, “but we laid lots of groundwork. We consulted a financial planner and a lawyer. Here we are - nine years later!”

Louise ticks off the many benefits, expected and unexpected, of living with housemates:

“The environment: We feel good we use fewer utilities. The social support system and community. And definitely the money - I’ve saved more for retirement, which is paradoxical because this was supposed to be retirement!”

The three women share their experience and advice in a collaboratively written book: My House Our House: Living Far Better for Far Less in a Cooperative Household.

They all agree collaboration is what makes a shared housing arrangement succeed. “It’s imperative for people sharing a home to make sure they respect healthy boundaries that ensure everyone’s wellbeing. You need to be on the same page about lifestyle,” says Louise.

There’s something about their age group that helps too. “It seems to be the boomers that drive shared housing,” Louise says. “It’s something we did when we were young, and we just don’t have the barriers other generations have.”

Paki Wieland, another boomer, met her housemate, Francis Crowe, as their generation was driving the counterculture of the 1960s.

“When I first visited western Massachusetts in 1968, Frances was one of the first people I met,” recalls Paki, now in her early 70s. It was the height of the Vietnam War, and Paki and Frances, were passionate activists, working together at demonstrations and peace committees.

When the war ended, Paki went to college and became a professional. Frances continued working at a peace center, supported by her husband, a radiologist. The women lost touch. Neither had any idea their lives would once again converge.

But Paki’s marriage ended and Frances’ husband died. Paki was preparing to retire from a teaching position at Antioch New England Graduate School but had not thought about what retirement would look like. Frances started renting out the downstairs of her house. Just as Paki put out the word she needed a place to live, Frances’ tenant moved out.

Frances suggested that her long-ago acquaintance move in. When Paki showed up with her bags in the fall of 2002, both women considered it a tenant/landlord relationship. It hasn’t stayed that way.

“We became more and more involved in our lives together. It was very gradual,” Frances says. We each have our own living space, but we share the house, and she’s good company,” Frances says of Paki. “We read the same books. I pass the paper on to her.” Paki agrees. “If we go somewhere together to a film, I’ll organize us to do that,” she says.

Considering Paki is younger than Frances, you might guess she’s Frances’ caretaker - but you’d be mistaken.

“My physical abilities have diminished in the last 10 years,” Frances concedes, “and Paki is mindful of that. She checks in on me.” Still, Paki isn’t Frances’ nurse.

“Increasingly I became aware of the way our lives overlapped,” Paki explains. “When I first moved in I didn’t imagine living here this long. But it’s worked very nicely. Frances certainly doesn’t plan to go into any retirement - age place, so as long as we can both stay here, we’ll do that.”