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401k Strategies for Retiring in Style - 401k Videos (October 6th, 2008)
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Video Review Commentator: And you've got to do more than just put money aside. You've got to figure out, where to put it! Kwei Battles: American Bank, Washington Mutual are some of my banks. I have my money divided into 5 categories. Commentator: If you feel a little uncomfortable about your company's retirement plan, here are a few basics. i) Beware of Company Stock: If your company offers its own stock as an investment option, just say no. That's too many eggs in one basket. ii) Keep your plan simple: You don't need more than a few investments. Along with bond and money market funds, almost every expert suggests putting some money in stocks. But how do you decide how much? Here's on rule of thumb: 100 - Your Current Age = Stock % (Put this percentage of your money in to stocks). Divide what's left over between money market funds & bonds. iii) Review your account every now and then and make adjustments as necessary. This could be every quarter or every year. Stacey Johnson (CPA): There is one more thing when it comes to retirement plans, fees! Watch out for the next video set for more information on 401k fees!
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401k Articles
> Roth
IRA Contribution Limits Trivia > The Truth Behind Hidden Fees in 401k Plans (Part 3) - 401k Videos > Retirement Saving Tips for 55 to 64 Year Olds (Oct 20/2008) > The Truth Behind Hidden Fees in 401k Plans (Part 1) - 401k Videos > Tax
Treatment of Roth IRA Distributions Trivia > Small
Business 401k Plans Trivia > Traditional
& Simple 401k / Roth IRA Contribution Limits Trivia > Close Look at 401k Plans - How It Works, Contributions & Distributions > Understand 401k Hardship Withdrawals > Introducing Simple 401k Retirement Plans - Advantages and Disadvantages, Eligibility, Deadlines > Simple IRA versus Simple 401k Plans - Eligibility, Contribution Limits, Further Readings > Understanding the Roth 401k - Introduction, New Rules, Comparisons with Traditional 401k > Tax Treatment of Roth IRA Distributions > Tax Deductions and Credits on IRA (Individual Retirement Account) Contributions Most Frequented Files > 401k 401k Interesting Facts -> Roth 401k is voluntary for employers. In order to offer Roth 401k for their employees, employers have to set up a tracking system that segregates Roth assets from the company's existing plan. This tracking system is expensive to build and maintain, and employers may not choose to do it at all. If so, your employer will not be eligible to offer Roth 401k. -> Upto $10,000 can be withdrawn from a Roth IRA without any penalty if the owner wishes to purchase a home or principal residence. The home must be purchased by either the Roth IRA owner, his spouse, ancestors or descendants. Also, the Roth IRA owner must not have previously owned a home for atleast 24 months. -> Roth 401k Works Best if: - The federal government increases taxes
over time
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If
you want to retire in style, you are probably not banking on relying on
Social Security. Kwei Battles, a 401k Investor featured in the
video invests in a 401k, Roth IRA and some personal investments. This
video gives basics tips on how to plan out your 401k retirement plan &
strategies you can use to avoid common pitfalls and have a successful
retirement. The most common tips are, beware of company stock and do not
put all your eggs in one basket, keep your investments simple and to a
maximum of 5, and review your investment portfolio every now and then
(this could be every quarter, annually or even every month - if you have
the time).