how can isave for retirement?

Question

Iheared about 401k but idon't know how can ienroll .which investment cooperation is good
how much can iinvest?

Answer 1

Always pay yourself FIRST ( 401k, Roth IRA, traditional IRA, mortgage)... then budget out the rest of your money for expenses.....

Answer 2

If you dont know about investing, go to a investment broker like Edward Jones or Merrill Lynch and talk to someone. They can explain the 401K, IRA, and deferred options. Realize this is NOT like a savings account where you can withdraw money; any withdrawl carries a penalty. And there are two kinds of IRA, Roth and standard, so you need to talk to a professional who can guide you based on your budget needs.

Start small and increase as you realize you can budget without the money. Example for deferred you invest $100 but your paycheck only goes down about $75 due to the deferred federal tax savings.

Answer 3

One of the most common retirement plans is the 401 K. In a 401 K, some amount is deducted monthly from your pay check. The money is tax deferred and so you do not pay taxes on the amount invested. Usually there are various investment choices like mutual funds, stocks, bonds etc. In some cases, the employer will match the employee’s contribution to the account, though these instances are decreasing.
http://debts-to-wealth.com/category/Retirement-Planning.html

Answer 4

You can contact your HR department or your plan administrator. They can assist you in setting up and enrolling in your company's 401k if you have met the requirements to be eligible.

How much you can defer is totally up to you. You can try at minimum 10-15% and increase it gradually as you see how it impacts your lifestyle. You can also check to see if your plan has an automatic annual increase program.

Your plan administrator would also be able to provide you with the prospectus for each investment offered to help you better understand each fund's performance and rating. Some plan administrator's offer free workshops periodically, you should look into attending a few to gain some insight on investing wisely.

Answer 5

491k is a company sponsored retirement plan check with you manager and see if you company has one

then you have roth ira this is for after tax dollars up to 4k a year and earning are not taxable

regular ira is fo pre tax income and the earning are taxable -- most folks if they are in a high paying job can lower their number of deductions and still be all right at tax time because of the money they invest in the ira is not taxable income!!!