Time to 401K !

Do you have a 401Kor 403B? If not, you need to have one!

Most Employers offer some form of Retirement Plan as a benefit to their Employees in fact, they may even offer matching funds!
401K Programs offer ability to chose your own investments, a chance to save pre-tax dollars and an easy way to save for retirement. Employer Contributions are "free money" to help you save even more for retirement.

Start saving by joining the 401K or 403B Savings Plan at work and save as much as is comfortable for you and your budget, but remember that there always will be a demand on your money, something always comes up, but you must save for the future. Consistency is the key for success! Save a small amount form each paycheck, start with 10% (more or less as you feel comfortable). When you can afford to increase contributions, do so. Over time, earnings on your money typically increases, bringing you even more financial security.

Diversify your investments with a variety of Funds can help to reach your goals. If you do not have an Investment Consultant please let me know and I will be happy to give you referrals.

You are in the driver’s seat. Employers and Fund providers usually will make investment education available to you, but it is your responsibility to build up the retirement nest egg that you need. There is no need to micromanage your funds, just use smart saving strategies to help make your money grow over time.

• Research savings education resources such as www.choosetosave.org
  
• Meet with a Financial Planner
  
• Diversify your investments with a variety of Funds that will help achieve your specific goals
  
• Rebalance Funds when Equity/Fixed Income percentages are more than 5% off your target goals
  
• Track savings progress at every age milestone

The Federal Government limits the amount that you can contribute to an Employer Sponsored Savings Plan on a pre-tax basis. You save pre-tax dollars from your gross income, so your contributions will reduce your taxable income. It may make good financial sense to contribute the maximum amount and cut your tax liability. Please consult your Financial Planner or Tax Consultant for advice on your specific financial needs.

Refinancing your primary residence, vacation home or investment properties for a lower interest rate, monthly savings or debt consolidation is a great way to add more to your Retirement Savings. Put the savings each month into your 401K, 403B or IRA Retirement Accounts and watch your funds increase quickly.

If you or anyone you know is looking to refinance please call me direct at 763-557-5608, or stop in to see me at Bremer Bank—Plymouth, MN.

Referrals to family, friends, neighbors and business associates are always appreciated and welcome!

Enjoy the Holiday Weekend!

Regards,
Steven Goldman