An Abney Associates Ameriprise Financial Advisor for Taking Retirement Plans
An Abney Associates Ameriprise Financial Advisor for Taking Retirement Plans Taking advantage of employer-sponsored retirement plans Employer-sponsored qualified retirement plans such as 401(k)s are some of the most powerful retirement savings tools available. If your employer offers such a plan and you're not participating in it, you should be. Once you 're participating in a plan, try to take full advantage of it. UNDERSTAND YOUR EMPLOYER-SPONSORED PLAN Before you can take advantage of your employer's plan, you need to understand how these plans work. Read everything you can about the planand talk to your employer's benefit officer. CONTRIBUTE AS MUCH AS POSSIBLE The more you can save for retirement, the better your chances of retiring comfortably. If you can, max outyour contribution up to the legal limit If you need to free up money to do that, try to cut certain expenses. CAPTURE THE FULL EMPLOYER MATCH If you can't max outyour 401(k) or other plan, you should atleast try to contribute up to the limit your employer will match. Employer contributions are basically free money once you're vested in them (check with your employer to find out when vesting happens). EVALUATE YOUR INVESTMENT CHOICES CAREFULLY Most employer-sponsored plans give you aselection of mutual funds or other investments to choose from. Make your choices carefully. The right investment mix for your employer's plan could be one of your keys to a comfortable retirement KNOW YOUR OPTIONS WHEN YOU LEAVE YOUR EMPLOYER When you leave your job, yourvested balance in your former employer's retirement plan is yours to keep.
An Abney Associates Ameriprise Financial Advisor for Taking Retirement Plans
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