Deciding How Much to Contribute to the Plan
Deciding How Much to Contribute to the Plan
The Nuts and Bolts of a 401(k) plan
- Introduction
- Contributions
- Your Money Stays in the Plan
- Rollover from a Previous Employer
- Investing Your 401(k) Funds
- Selecting a Beneficiary
- Comparing your 401(k) to Other Retirement Plans
- Should You Participate in a 401(k) Plan?
- Does Your Spouse Have a 401(k) Plan?
- Deciding How Much to Contribute to the Plan
- What Can You Afford to Contribute?
- Limits on Contributions
Deciding How Much to Contribute to the Plan
Planning now for your retirement—years before you are near retirement age—is essential. To help with your planning, answer these questions:
- What are your projected cash flow needs at retirement?
- How much have you currently saved or invested, and what will it grow to by the time you retire?
- How much more do you need to invest?
- Where are you going to get the rest of the money you need for retirement?
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