Thursday, April 1, 2010

New and easy tips for retirement savings

Most of the Americans don’t enjoy the benefit of a retirement plan by their employer and if some of them are doing also hardly they are saving enough to sail softly after their retirement. To encourage this President Barack Obama announced many federal initiatives for the promotion of retirement saving few months back. He brought up many options where employees will be automatically enrolled into retirement plan. Some can also convert their unused leaves like sick leaves and others for funding into 401(k) plan. It will also help in saving tax refunds.

Many employees does not take initiative to enroll into retirements savings plan or 401(k) plan .So recently with the help of Government with a new rule given options to employer, now then can automatically enroll their workers into this plan unless he wants to opt out from it. .When they will enroll it will automatically sign up for a 401(k) and also increase the saving amount each year they save. When you will get enrolled by the employer he will obviously with approval from IRS.

I hope this will really help the workers in savings for their retirement and getting maximum retirement benefits to live a happy life.

1 comment:

tech said...

Retirement can be the happiest or saddest day of your life. It is important that you re-evaluate your preparedness on an ongoing basis. Changes in economic climate, inflation, achievable returns, and in your personal situation will impact your plan. We so hyped into believing that all we need to do is make the maximum retirement contributions every year, stay fully invested, wait for time to work it’s magic and we’ll all live happily ever after.The retirement has something like just lazing on the sofa reading a novel without any worries, then that's not very different from how most of us wish to spend our retirement, is it not? . The difference is in the planning & application to achieve that standard of retirement.
Atlast I should say that I am impressed with what I have read thus far.
Thank you