That depends. If you are not a good saver and traditionally spend your money quickly, a 401K is a good investment to make sure you have money when you retire.
The property investment group is good, but there are better options out there. You should invest your money in a 401k or retirement fund. Be sure not to roll over your 401k too early.
A good personal rate of return for a 401k investment is typically around 7 to 10 per year. This can vary based on individual risk tolerance, investment strategy, and market conditions.
Both 401k and Individual Retirement Accounts (IRAs) are retirement savings accounts. You may ask your old employer to do a direct rollover of your 401k plan to your IRA account with no loss of money.
A 401k is a retirement plan that is used exclusively in the United States. An employee elects to have a portion of his or her wages diverted in a savings account, or a 401k. Some companies offer benefits for employees, where they match a portion of the wages that are redirected to the 401k account. Many of the investments of a 401k are tax deferrable, making it a very good investment option. Many 401k plans comprise of company stock, mutual funds, and bonds. This means that after you retire, the success of the company will have a lot to do with how well your 401k is doing. As with any other investment, you must do a lot of research before deciding which plan is best for you. However, since all 401ks are tax deferrable, any money that you should choose to put aside will be deducted from your yearly earnings. For example, if you make $60,000, and set aside $7,000 for your 401k, then you would claim that you made $53,000 that year. Since a 401k is a retirement plan, there are strict limits as to when you can begin to withdrawal the money. Most 401k plans require that the individual be over the age of 59 and a half, and that they no longer be employed by the company. However, some plans allow the 401k holder to take out loans. These loans are paid off by the money in your 401k, and the holder just has to pay interest. All 401k plans are required to begin paying the holder when they reach the age of 70 and a half. The 401k is paid out overtime, and the amount paid is determined by the life expectancy of the individual. An individual who is terminated by the company, or quits, can then exercise their force out option. This allows the holder to terminate their 401k, voiding their ownership of funds and stock. There is a limit to how much an employee can deposit into their 401k yearly. In 2010, this limit was $16,500. Depending on the economy, this number changes yearly as people make more investments in their future. An investment for your golden years, a 401k is an excellent compliment to social security for a happy retirement.
Most companies that specialize in these type business have very good products and services to offer to their clients it really depends on the individual and what the individual is looking at in long term goals with a 401k.
A 401K is a tremendous help in retirement. It is a great back up source to rely on. However, it is also wise to have a savings account for retirement as well.
The property investment group is good, but there are better options out there. You should invest your money in a 401k or retirement fund. Be sure not to roll over your 401k too early.
A good personal rate of return for a 401k investment is typically around 7 to 10 per year. This can vary based on individual risk tolerance, investment strategy, and market conditions.
Most employers offer a 401K plan but you can also research banks that offer a good 401k plan.
Vanguard and Scudder are two investment companies. Both of their websites offer information to investors about 401k plans.
Both 401k and Individual Retirement Accounts (IRAs) are retirement savings accounts. You may ask your old employer to do a direct rollover of your 401k plan to your IRA account with no loss of money.
Check out www.stansberryresearch.com, this is a good start.l
One investment that a person could recommend that would be good would be to have a savings account.
A 401k is a retirement plan that is used exclusively in the United States. An employee elects to have a portion of his or her wages diverted in a savings account, or a 401k. Some companies offer benefits for employees, where they match a portion of the wages that are redirected to the 401k account. Many of the investments of a 401k are tax deferrable, making it a very good investment option. Many 401k plans comprise of company stock, mutual funds, and bonds. This means that after you retire, the success of the company will have a lot to do with how well your 401k is doing. As with any other investment, you must do a lot of research before deciding which plan is best for you. However, since all 401ks are tax deferrable, any money that you should choose to put aside will be deducted from your yearly earnings. For example, if you make $60,000, and set aside $7,000 for your 401k, then you would claim that you made $53,000 that year. Since a 401k is a retirement plan, there are strict limits as to when you can begin to withdrawal the money. Most 401k plans require that the individual be over the age of 59 and a half, and that they no longer be employed by the company. However, some plans allow the 401k holder to take out loans. These loans are paid off by the money in your 401k, and the holder just has to pay interest. All 401k plans are required to begin paying the holder when they reach the age of 70 and a half. The 401k is paid out overtime, and the amount paid is determined by the life expectancy of the individual. An individual who is terminated by the company, or quits, can then exercise their force out option. This allows the holder to terminate their 401k, voiding their ownership of funds and stock. There is a limit to how much an employee can deposit into their 401k yearly. In 2010, this limit was $16,500. Depending on the economy, this number changes yearly as people make more investments in their future. An investment for your golden years, a 401k is an excellent compliment to social security for a happy retirement.
Not being an expert I would first contact the Plan Administrators (where the account is held) and seek advice. If they are no help try your states Dept of Banking and Insurance, State IRS if necessary and begin looking for work elsewhere, Good Luck
Most companies that specialize in these type business have very good products and services to offer to their clients it really depends on the individual and what the individual is looking at in long term goals with a 401k.
No it isn't but the people who think it is are dorks!