Get an IRA if you don’t have a 401(k)
Last week we talked about why you should participate in your 401(k) plan. What can you do if you don’t have access to a 401(k) plan? The answer is an Individual Retirement Arrangement (IRA). Read on for three reasons why you should contribute to one if you don’t have...
Why you should participate in your 401(k) plan
After reading several articles on the lack of retirement savings, here are three reasons you should participate in the 401(k) program offered by your employer. 1. You would like an immediate 100% return on your investment. If your employer matches a portion of your...
Are you ready to retire comfortably?
How much do you need to save to retire comfortably? The best answer is: It depends. What are your expected expenses? Develop a retirement budget. Things to consider: Income taxes on your retirement savings. Possible reduced expenses for clothing. Possible increased...Debunking some Social Security myths
Myth #1: I should apply for Social Security benefits as soon as I am 62 because Social Security won’t be around long. According to the Social Security Administration, if no changes are made, current benefits will continue until at least 2034. By 2034, benefits will...Deductions may reduce Social Security benefits
In last week’s blog, we mentioned that you can go to www.ssa.gov/myaccount to discover your expected benefits when you retire. When you start receiving those benefits, you may be unpleasantly surprised that the dollars you are receiving are less than you expected....Signup MailChimp
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