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 […]
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The Individual 401(k)
If you’re self-employed or own a small business, you’ve probably considered establishing a retirement plan. If you’ve done your homework, you likely know about simplified employee pensions (SEPs) and savings incentive match plans for employees (SIMPLE) IRA plans. These plans typically appeal to small business owners because they’re relatively straightforward and inexpensive to administer. What […]
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The Roth 401(k)
Some employers offer 401(k) plans that allow participants the opportunity to make Roth 401(k) contributions. If you’re lucky enough to work for an employer that offers this option, Roth contributions could play an important role in helping enhance your retirement income. WHAT IS A ROTH 401(K)? A Roth 401(k) is simply a traditional 401(k) plan […]