National 401K Day is September 9

    Friday, September 9 is National 401K Day!  Regardless of what type of retirement plan your employer provides, participating can provide more than just a nest egg for your golden years--it can also defer real tax dollars today and push the taxes into your retirement years when incomes tend to be lower.

    Most employers provide some degree of "matching" for the contributions you make to your employer-sponsored retirement account.  For example, if you contribute 3% of your wages to your retirement account and your employer matches up to 3%, you have DOUBLED your contribution.

    Income set aside in 401K and some other types of retirement plans can be done with pre-tax dollars.  For many people, this is a very effective tax strategy.  In some cases electing a ROTH option may make more sense.  A ROTH option is funded with AFTER-tax dollars, but grows tax free and after retirement, no taxes are due upon withdrawal. 

    We can help you determine which type of retirement option makes the most sense based on your specific tax situation.  Questions?  Call us for an appointment today!