Retirement Accounts: How To Maximize

Where you put your money, how you invest it, and how you handle your retirement accounts are important factors in helping you meet your retirement goals.

It you have more than one retirement plan, a very simple method to consider for allocating your dollars among your retirement plans is:

Step 1. Make contributions to employer sponsored plans that provide matching contributions.
Step 2. Contribute to other plans that allow deductible contributions.
Step 3. Contribute to a Roth IRA.
Step 4. Consider other plans to which you can make non-deductible contributions.

NOTE: Your age, tax situation now and in the future, amount of assets, etc. can all impact on the appropriateness of this strategy for you.

Invest your money appropriately for a retirement plan. For instance, don't put tax exempt investments into a retirement plan.

Administer your plans with care. For example, consolidate accounts when feasible to reduce administrative fees. Don't take possession of Rollover funds.

Please share how this information is useful to you. 0 Comments