Saver portal

Why is saving now so important?

With everyday costs increasing, it’s important to ensure that we have enough savings to cover costs in retirement. Paying for health care alone can be one of the largest expenses for people in retirement. A 65-year-old couple retiring in 2016 may need an estimated $260,000 to cover health care costs in retirement.1

Other living expenses are also on the rise.2 Look at how prices for everyday items have increased in the last 20 years.


Where will your money come from?

For most people, the days of a guaranteed company pension plan are long gone. And Social Security alone is unlikely to cover all of your expenses. In fact, your employer retirement plan may be your largest source of income.3

Social Security Graph

Time makes all the difference – when should you start?

We want to empower you to take ownership of your savings plan today with OregonSaves—to help you save for what you'll need tomorrow and every day after that. Consider the scenario below.

Who do you think comes out ahead?

  • Sam starts saving early and keeps saving until retirement
  • Sherry starts saving early, but saves for only 16 years before stopping
  • Sally starts saving later, but saves double what Sam and Sherry save per year

The results:4

  • Sam saves the most by more than $170,000
  • Sherry and Sally are neck-and-neck, although Sally contributed much more money to the account.


There can be a cost to delaying saving. Put time on your side.

1Estimate based on a hypothetical couple retiring in 2016, 65-years-old, with average life expectancies of 85 for a male and 87 for a female. Estimates are calculated for "average" retirees, but may be more or less depending on actual health status, area of residence, and longevity. Estimate is net of taxes. The Fidelity Retiree Health Care Costs Estimate assumes individuals do not have employer-provided retiree health care coverage, but do qualify for the federal government's insurance program, Original Medicare. The calculation takes into account cost-sharing provisions (such as deductibles and coinsurance) associated with Medicare Part A and Part B (inpatient and outpatient medical insurance). It also considers Medicare Part D (prescription drug coverage) premiums and out-of-pocket costs, as well as certain services excluded by Original Medicare. The estimate does not include other health-related expenses, such as over-the-counter medications, most dental services and long-term care. Life expectancies based on research and analysis by Fidelity Investments Benefits Consulting group and data from the Society of Actuaries, 2014.

2Source for eggs per dozen, gas per gallon, coffee per pound: Bureau of Labor Statistics; Source for movie ticket: Box Office Mojo.

3Social Security Administration, Fast Facts & Figures about Social Security, 2015.

4For illustrative purposes only—your individual results will vary. The illustration assumes a retirement age of 65 and that the individual receives the monthly retirement payment shown until age 90. The amount saved until retirement assumes an annual investment return of 6%. The monthly payment amount in retirement assumes an annual investment return of 5%. The investment performance shown does not represent the return of any particular investment and does not guarantee any future rate of return. The final account balance does not reflect any taxes or penalties that may be due upon distribution. Withdrawals for a tax-deferred account before age 59 ½ are subject to a 10% federal penalty tax unless an exception applies.