Reaching your goals of retirement is not something you want to leave to chance. The lifestyle you dream about when your professional career ends mean saving as much as you can today. One financial vehicle that could help ensure you meet your goals is a 401k plan in Russellville, AR.
Here are three benefits to possibly using this tool to begin building your financial future.
1. Tax Advantages with Pretax Contributions
One benefit to using the 401(k) plan offered by your employer is having contributions taken out of your pay before federal income taxes are withdrawn. Not only are you investing in your future, but also pretax contributions lower your taxable income.
2. Early Investing Puts Time on Your Side
Your money has more time to grow if you start investing early through a 401k in Russellville, AR. A key component of this type of retirement plan is the use of compound interest, which allows you to earn interest on the interest that accumulates.
3. Take Your 401(k) with You
Another great benefit to participating in a 401(k) plan is even if you decide to leave your current job, the money belongs to you. The type of plan you have will determine different ways to keep your retirement investments with tax-deferred growth in either the current plan or moving it to a new one.
Retiring Comfortably Requires Planning
A comfortable retirement requires sound planning. Having a partner like Dale Brunk, CEBS, AIF to believe in your goals can help ensure you live out your dreams. Visit https://www.mylandmarkfinancial.com to learn more about pursuing your financial freedom.
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