September 7, 2006

The Nest Egg Index & 12 Tips On Saving

Stockbrokerage firm AG Edwards has released its second Nest Egg Index. In it, they rank what they consider to be the 500 top-saving communities nationally.

Ranking is based upon 12 factors, retirement plans and home ownership being two of them. The report reveals what parts of the country are doing well -- and not so well -- in building financial "Nest Eggs", according to the company.

934 communities are included this year, with the top five states being: New Jersey, Connecticut, Minnesota, Maryland, and Massachusetts, and the top five cities: Los Alamos, New Mexico; Bridgeport-Stamford-Norwalk, Connecticut; San Jose, California; Torrington, Connecticut; and Minneapolis-St.Paul-Bloomington, Minnesota.

In tandem with this, AGEdwards has compiled a list of 12 Tips on Savings, details on the site and headings shown below:

Start early.
Get over the planning hump.
Prioritize your long-term nest egg needs.
Pay yourself first.
Participate in employer-sponsored savings and retirement plans.
Diversify.
Control and reduce your debt.
Compare what you spend with what you want.
Monitor your savings plans and progress.
Review your income tax withholding.
Team up.
Expect the unexpected.

You can check your community online at their site as well as the criteria used for the study.

No comments: