Shelton 401(k) Pro-tips
Shelton 401(k) Pro-Tip #12: Understand How Your 401(k) Helps Provide Better “Health” in the Long Run
You probably do not think about your financial wellness in the same way you think about your healthcare. Most people do not, but there are plenty of good reasons why you should. The holistic approach you employ to achieve a higher standard of physical and mental well-being are similar to that you might apply to your financial wellness.
Don’t Touch Your 401(k)…It Is A Bigger Deal Than You Might Think
We know you have diligently been contributing to a 401(k) plan, and you have probably enjoyed seeing your net worth grow each year. For many Americans, a company-sponsored 401(k) account will be the most valuable piece of their retirement income pie someday.
Shelton 401(k) Pro-Tip #11: Take Advantage of 401(k) Catch-Up Contributions When You Can
You may have heard somewhere, probably on an online ad, that it takes more than a million dollars to retire. Whether or not that is true (it is not), many people feel they are not putting enough money away to last throughout retirement.
Shelton 401(k) Pro-Tip #10: Familiarize Yourself with the Differences Between a 401(k) and an IRA
When it comes to planning for retirement, both 401(k)s and Individual Retirement Accounts, commonly known as IRAs, offer terrific benefits. And, guess what? You can contribute to both at the same time.
Shelton 401(k) Bonus Pro-Tip: Reduce the Impact of Market Volatility with a Dollar-Cost Averaging Strategy
If you find yourself worried about falling stock prices – but you do not want to miss out the market’s inevitable turnaround — here is a tried-and-true investing strategy to consider.
Shelton 401(k) Pro-Tip #9: Familiarize Yourself with How 401(k) Distributions Work
If you are fortunate enough to have access to a 401(k) plan, then you have a real opportunity to sock away some meaningful dollars for retirement. These employer-sponsored plans allow you to contribute up to $19,500 in 2020. Some employers will also match some of your contributions, which means free money for you.