Category: 401K
Thursday, January 5th, 2012
Long gone are the days when you’d work your entire adult life at a single job, build up a great pension after 30 or 40 years of service, then retire and live on those pension benefits. In fact, the U.S. Department of Labor estimates that the average American worker will change jobs every three and a half years.
Instead of offering pension plans, employers have shifted to offering 401(k) plans. With a 401(k) plan the obligations are now on the employee to contribute funds directly and to decide how to invest those funds. Employees are also responsible for eventually...
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Tags: 401(k) transfer, ira rollover, retirement advice
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Monday, February 14th, 2011
One of the perks of working for some companies is the ability to make use of a 401k plan. Entrepreneurs and self-employed individuals have often missed out on these investment opportunities, but they don’t have to there are ways to take advantage of going out on your own.
Starting a solo 401k for entrepreneurs sets the stage for retirement planning. It also provides a little safety net for future finances. The investment benefits of a solo 401k make it something every small business owner and entrepreneur should consider.
Here is some advice on the benefits for investing in a Solo 401k:
Higher...Read More »
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Tags: 401k advice, 401k solo, retirement advice, retirement planning
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Saturday, January 8th, 2011
Planning the exact amount of money necessary to enjoy a comfortable retirement can seem like an impossible task. Individuals and families sometimes struggle to find the right balance between enjoying retirement and skimping on spending to be sure there will be enough to last.
Setting any budget for a ten to twenty year period can be a challenge. Answering a few questions will help start the process of determining the right size for a 401k nest egg. More is always better when it comes to preparing for the future. It still helps to know how much is necessary to fund...
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Tags: 401K, 401k advice, retirement advice, retirement planning
Posted in 401K | 1 Comment »
Tuesday, October 26th, 2010
Since their introduction in the 1980s, 401(k) plans have become a mainstay for many people who are saving for retirement. Having a 401(k) account allows you to contribute money (in the form of a payroll deduction) to an individual account before taxes are paid on that money. The effect of this type of tax deferral is to increase the ability of your money to grow before you are required to pay taxes. In fact, since taxes are only due when funds are withdrawn from a 401(k) account, it is possible for your contributions to grow for...
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Tags: 401K, 401K contribution, 401K match, retirement advice
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Saturday, February 7th, 2009
Simply put the answer is yes - absolutely. Here are the reasons why. Let’s assume you took a substantial hit to your 401K plan when the stock market plummeted approximately 40%.
The amount of stocks, bonds, mutual funds, and other holdings that your 401K provider continues to purchase at the currently lower prices will eventually increase in price once the stock market rebounds. If you do not contribute, you will be losing out on the potential increase your overall portfolio will obtain.
The basic rule of investing is to buy low and sell high. Now is therefore a great time to make...
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Tags: 401K, retirement, retirement advice, retirement planning
Posted in 401K | 1 Comment »
Friday, February 6th, 2009
With the current economic crisis on everyone’s mind, you may be wondering if you should withdraw money from your 401K. My recommendation is that you do not. Rather your contributions should continue based on the “buy low-sell high” theory.
What does this mean for you? Simply stated, right now most individuals may have incurred a severe loss in their 401K plans. But, considering that the stock market has dropped approximately 40% since the economic decline, your portfolio will likely increase with stocks, bonds, and mutual funds that can now be purchased at lower prices. See my...
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Tags: 401K, 401K Withdrawal, retirement, retirement advice
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