While saving for retirement with a 401(k) is way easier and way more convenient, not al employers offer a 401(k). With an employer issued 401(k), money for your retirement is taken out of your paycheck before you even get a chance to see it. Sometimes, you automatically can receive tax breaks for this saving as well.
Some employees can actually be enrolled in a 401(k) without doing any paperwork even. 401(k)s can make life easier for some. But if you don’t have a 401(k), how can you save for retirement? It’s going to be a little more challenging, but you can absolutely do it!
One of the most beneficial things about 401(k)s are, is that you don’t have to think about putting money into your account, it’s set up for you. But, if you don’t have a 401(k), you can mimic that. By setting up a direct deposit you can set up to set aside a portion of your paycheck into an IRA or another investment account.
Another way to fund your IRA is to take your tax fund, and immediately put it into your IRA. If this sounds like a great option for you, the IRS Form 8888 will allow you to deposit your tax refund directly into your investment savings account.
Of course it’s not easy to have a worry-free retirement when you’re retirement nest-egg is still invested on the risky stock market. On-going fees and commissions along with the risk and corruption that exists within the financial industry could cost you a great deal of your retirement savings…money you can make up if you’re already in retirement and not working. Get educated on the exclusive Crash Proof Retirement System- guaranteed to protect your principle so when the market crashes, your accounts satay event, but can also be designed to generate income and take advantage of market increases. Start your education today by calling 1-800-722-9728 or go to Crashproofretirement.com and register to attend a no-cost/no-obligation educational evet with the creator of the proprietary Crash Proof Retirement System: Phil Cannella.