Year end usually presents a good time for personal reflection back to previous excesses that may have lasting consequences. Seldom do ordinarily conscientious folks look back for times in which they could have done more. Only here we are not talking about office parties, but rather retirement savings in the form of 401(k), 403(b), 457 and IRA accounts. Retirement savings habits, however, do present a case where more action attendant to savings, variety, costs and trading could have brought better investment returns in 2011 and beyond.
Consider the following retirement regrets where more, rather than less, would have been warranted in 2011:
Saving too little too late: Financial planners recommend individuals save at least 10 to 15 percent of pay each year for retirement, and more if you are older. When you save under an employer-sponsored 401(k), 403(b), 457 or IRA retirement savings plan, you may not only be able to defer taxes on the portion of your pay you contribute to your account, but you may also get the benefit of a company match on some or all of your contributions.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
