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Anthony Penree

Financial Advisor

 

ABC Company

45 Prospect Ave, Albany, NY 12206

 

Phone:  518-870-1081

 

Email: apenree@ltmclientmarketing.com

Website: ltmclientmarketing.com

July/August 2020

Tools to Help You Build Your Retirement Accounts

Tools to Help You Build Your Retirement Accounts

Company-sponsored 401(k) plans may feature matching contributions from your employer, and automatic enrollment, rebalancing and contribution escalators, to name a few. Even if you don’t have these options, you can still model your retirement investing behavior after some of these plan features.


Auto Enrollment
If your retirement plan doesn’t offer automatic enrollment, ask what you need to do to join. If you don’t have a workplace plan, make it your mission to research the qualifications and contribute to an individual retirement plan.


Auto Contributions
Before you start a new job, forecast your take-home pay for your monthly budget after subtracting a number like 10% for retirement contributions. (Remember that your contributions will likely be tax-deductible.) Start contributing as soon as you’re eligible.


Auto Escalators
When you get a raise, why not put the extra money into a retirement account? Employers often do this automatically for plan participants who receive raises. If yours doesn’t, request to change your contribution level.


Auto Choice
Some people don’t enroll in 401(k) plans because they don’t want to have to choose among investments. So some employers automatically put employees’ contributions into target-date or balanced accounts for them. Do the same if you don’t want to choose among investment options.


Auto Rebalancing
If you choose your own investments in a workplace or other retirement plan, it pays to diversify.* To keep your portfolio diversified as planned, you’ll need to rebalance it every six or 12 months.


*Diversification cannot eliminate the risk of investment losses. Past performance won’t guarantee future results. An investment in stocks or mutual funds can result in a loss of principal.


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ABC Company and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative. * Securities offered through ABC Company, Member SIPC, 45 Prospect Ave, Albany, NY 12206.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.