I Don’t Get It! Hey, FREE is …well FREE, and we’re talking about money. Who doesn’t like free money? You may be shocked to learn that many people, having a 401k plan available at work, don’t participate. Most plans have some matching funds for those who participate… again…FREE! And yet some folks turn a blind eye:” I don’t make enough”;” it takes forever to grow”; “I don’t see any benefit to me at this time”; “perhaps some day”(that day never comes).
Okay, so today the economy is tough, money is tight, but every day, not participating, is a lost opportunity. Thing is, who’s going to provide for you when you’re older and unable to work?? Already Social Security and Medicare are under attack and pensions have gone the way of the dinosaur.. It’s up to us…now! If I had my way, retirement savings would be mandatory for those earning a wage (like taxes on your paycheck), taken out before you get your pay. Unfortunately, the closest we can come is payroll deduction. Even if a 401k is not available, we can still set aside money for retirement.
So… get in the game! If available, join your company 401k plan (matching money). If not, open an IRA …Direct Deposit from your employer…or Direct deposit from your checking or savings account. A Roth Ira is best (the money earns compounded interest tax FREE) …Whoa…there it is again!!!
Till next time…. Cents Maker
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