Retirement - Personal Finance Tips
January 17th, 2007 by digerati
- Optimize your 401(k). If your employer offers employer match, you must set your 401(k) contribution to at least that amount.
- Play the IRA game smart. Max out your 401(k) first, your Roth IRA second, then your traditional IRA.
- Increase your 401(k) contribution. Especially when you get a raise. Some employers even give you the option of having your contribution automatically taken out of your paycheck.
- Don’t buy stock in the company you work for. This is the opposite of diversification. What happens if the stock tanks, and you lose your job and pension because of downsizing?
- Don’t be afraid of stocks. More than two-thirds of 401(k) money is in low-yielding bonds. Especially if you’re still young, invest in stocks. Over the long-run, they perform the best.
- Sign up for Medicare. Don’t forget to sign up for Medicare before you turn 65, even if you haven’t retired yet.
- Plan. Use the Social Security Retirement Planner to ensure that your retirement goes smoothly.
Source: Your Credit Advisor
Bookmark to:
0 Responses to “Retirement - Personal Finance Tips”
Leave a Response
You must login to post a comment.