No one wants to work forever, and most people look forward to their retirement years. But, in order to fully enjoy your retirement, you must be financially prepared. Social security will only go so far, and for many working Americans there is a real threat social security will not be available. So, what do you do? Making wise investment choices and spending less are good places to start preparing for the day you clock out for the last time.
One important place to look for beneficial savings is the very place you are looking to leave; your job! If your employer offers a 401(k) plan, take full advantage by doing the following:
● Begin contributing as soon as you are eligible.
- Contribute as much of your paycheck as you can, this will ensure you receive the maximum employer match and will grow your account faster.
- If you are starting at a later age, be sure to contribute more than your younger co-workers. After a certain age, you are eligible to put more into your 401(k) and still receive the same pre-tax benefits your younger counterparts receive for contributing less.
- Make wise choices on which investments to include. Having a good mix of moderate to more risky investments is usually best.
If you aren’t participating in your company’s 401(k), you are leaving free money on the table and hurting yourself. We understand deciding where to put your money for the future is confusing, and can help you make these important choices. Our goal is to save you money, get you out of debt, and plan for your future. We can help you accomplish your financial goals by stepping in to advocate for you with creditors, help you to avoid a wage garnishment or foreclosure, and seek debt relief on your behalf in the form of bankruptcy or by negotiating a debt consolidation or other workout plan. Call us today for help.
If you have questions about 401(k)’s, or other financial and debt related questions, call our office for answers. Call a Plantation, Florida debt relief attorney today for more information.