Qualified retirement plans are valuable investment tools. The money you put in them grows tax deferred until it is withdrawn at the time of your retirement and contributions to a 401(k) plan actually reduce your taxable income.
Whether you are already taking advantage of your employer’s retirement plan, still considering it, or have different investment methods in place to save for retirement, I encourage you to think more broadly about your retirement, and prepare for it between now and then. Today I’d like to share some timeless financial principals with you to apply to your personal situation.
In spite of what you may have heard, employee-funded 401(k) plans will continue to be the main source of retirement savings for many Americans for years to come, despite falling victim to scandal and stock market volatility in the past.
Since 401(k) plans are expected to be around for many years, we want to help you make the most of yours. Here are 8 tips to get you started.
It is no surprise that any type of investing comes with some amount of risk. Understanding what affects your risk tolerance and how to manage it, especially when you’re saving for retirement, can help you be more successful in reaching your financial goals.
Working, whether paid or unpaid, is good for our health and wellbeing. It contributes to our happiness, helps us to build confidence and self-esteem, and rewards us financially. Retirement, which is expected to be a rewarding time in a person’s life, can actually be a threat to one’s happiness rather than the opportunity it is meant to be.