Leadership Development...
is the key to 21st. Century Success in business. Harness the power of your peers to help you develop your employees, managers & successors!
| D-I-Y Strategic Planning...
allows you to make strategic decisions about your company's direction every time - all with the help of your peers!
| You'll Make Better Decisions...
when your ideas are challenged and your assumptions tested, continually and strategically - by a caring group of your peers!
|
|
401(k) Take Advantage Of New Rules
By John Hartley
With a change in the laws, there never was a better time to start a 401(k) retirement fund. In fact, you may find that you have already started one, because under the new law, your employer can put you into a 401(k) retirement fund automatically.
If that happens or has happened - to you, you might not pleased at first because some of your salary will be deducted to pay it. But believe me, any investment for your retirement is a good investment and if you have not started one, do so today. It is that simple.
Other changes in the law are that the Roth 401 (k) is now permanently available. The difference between a Roth and ordinary 401(k) retirement fund is that you invest out of taxed income, but with withdraw tax-free. With a 401(k) retirement fund, you get tax relief on your investment, but get taxed when you start to withdraw from it.
401(k) or Roth 401(k)
Which is best? That depends on your situation, and it is best to discuss this with a financial adviser but make sure you find a good
Our articles continue...
|
It's Official: We're in a RecessionWhile the announcement yesterday wasn't a surprise, it is good to acknowledge what many people have already known and felt. The National Bureau of Economic Research, or NBER said Monday...Don't Treat Your 401k Like a Savings AccountThe holidays can be a time where money becomes tight, and many people turn to their 401(k) or other retirement plans for some quick cash. If your retirement plan has...Saving Money is Easy if You Make it AutomaticMany people think saving money is hard, but it doesn't have to be. The biggest problem is that most people treat savings as something that should be done after all...Health Insurance Options After Termination or Early RetirementIf you're a full-time employee, chances are health insurance is one of the benefits available to you. If you choose to take advantage of this benefit, you probably understand that...3 Tips to Help You Maintain a BudgetThe process of creating a budget can be daunting at first, but creating one is actually the easiest part. Maintaining and staying true to your budget for any period of...Use the Rule of 72 to Estimate How Long it Takes Your Money to DoubleHave you ever wondered how you can quickly estimate how fast your money or investments will grow? Sure, you can plug numbers into a financial calculator or software program to...Be Aware of the Warning Signs of Too Much DebtIs paying off debt bogging you down and keeping you from reaching your financial goals? Using credit and can be a powerful tool that allows you to buy a home,...
one. You are likely to do better with a Roth 401 (k) if you are a high earner and will pay a lot of tax on your retirement income but this may not be the case for you. It depends on your tax payments now and expected future tax payments.
Once you have set up a 401(k) retirement fund, you need to take some interest in it this will repay you handsomely. Most people just put their money in one fund, and forget it. Then, 30 years later they might find it has not grown as much as they expected.
Review your funds annually
To avoid this happening to you, review your fund or funds every year. If you are unsure how to do it, find a good financial advisor one who puts your interest first. You need someone who will spell out the fund charges, compare them, and recommend you invest in more than one fund. It is never a good thing to put all your eggs in one basket, and this is very true of investing for retirement.
Whether you use a financial advisor or not make sure you do review your 401(k) retirement fund each year. Also remember that if you use a financial advisor he or she gives you a service they will charge for it one way or another, and you need to know how they are charging. It may be coming out of commissions not a good way or they may charge you a fee.
You do not need a financial advisor if you are happy to keep up to date with mutual funds and investment it is not so easy to learn.
Disclaimer
The information on this web site does not constitute an offer in any way. It gives general information, but is not financial advice. The aim is to help you decide what to do about your retirement plan, and the importance of saving for retirement. You should consult a retirement planning adviser with a proven record before setting up a retirement plan.
Article Source: http://articlecrazy.com
401 Changes-Retirement
Here are some more financial planning articles...
