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Any savings is better than nothing and the sooner you get started, the better!You should maximize your company's match if one is available.Simply defer as much as you can afford to budget and take full advantage of the tax deferral. Morningstar did a study called "Fees Matter." They found that expenses are a much better predictor of future returns than past performance.As an investor, there are three elements that you can control in the 401(k) plan: the amount of risk you can afford to take, the amount you save, and the fees of the funds you select.
Pre-tax contributions and earnings are taxed only when you withdraw it.
Lincoln Participant (Plan ID starts with "7"), click here.
Multiple Fund Participant (Plan ID starts with "S" or "D"), click here.
Since the money that would normally be paid in taxes goes directly into the 401(k) plan, pre-tax contributions can accumulate quickly.
However, if you need to withdraw money prior to age 59½ you may incur a 10% withdrawal penalty, in addition to owing current income taxes.