| |
| |
|
Wealth Building Information |
|
|
|
Gain More Control of Your 401k - What It Can Mean to Your Future
Points to ponder as you consider what can be done to maximize your 401k returns: 1.Are You Maximizing Your 401k Returns? 2.Is Your Plan Working Efficiently? 3.Do you need to Maximize Retirement Income? 4.Do you want Simple but Powerful Strategy to Increase Your Retirement Wealth? For most people their 401k investment strategy is to "set it-and-forget it". This mindset has long been in existence and has been perpetuated by 401k administrators and human resource departments alike. Don't make the mistake of thinking these people know what is possible, or that they will tell you if they do, to maximize 401k returns. Unfortunately, accepting the given type of strategy at your company will most often result in less than optimal returns. Yet so many people believe that if there were more to be gained, their employers would have a system set up to capitalize on that fact. They don't! If you were able to implement a strategy to squeeze a little more out of your 401k plan, say 8% more every year, this would result in four times the amount of money you would have at retirement because of the power of compounding interest! Think about that for a minute: 4 times what you might expect when you retire just by learning how to raise your return by 8%. Is this possible? Not only that, but people in the know are doing it by the thousands right now. A very simple but powerful 401k strategy that works with any 401k plan involves two things. 1. Awareness 2. Use of an index fund (where available) By awareness, I mean tracking the value of your 401k holdings on a weekly basis if possible. With this level of awareness you can easily spot a portfolio decline. If it approaches a predetermined amount (5% to no more than 10% suggested) you should switch into a money market. Or if you are well informed and have the ability into an index fund that is designed to profit from a decline (a Bear Fund). The biggest advantage you will gain is NOT letting your account value sink to such dismal levels that a 40%, 50% or greater gain is required just to get back to even. This alone could significantly increase the size of your 401 over time. Is this the only strategy that can safely increase your return rate on your 401k? Not at all. You just need to know what most people won't tell you. I have written a book on the subject called "Scientific Wealth Strategies." You can find it at http://wealthscientist.com There are also a lot of resources available on the net to help you understand what you can do with your 401k to maximize default returns no matter how your 401k is set up by your administrator now. A site in our publishing network helps you find this information. It can be found here: http://www.401kinfo4u.com The worst thing you could do is let your 401k lay almost dormant with the minimum returns you are getting now. Calculate what it will be worth at retirement now as opposed to what you'd have waiting for you when you retire with 8% more in returns. That should get you interested in seeking out the education needed to realize a whole different kind of retirement nest egg! C.C. Collins is a Financial Planning Advisor and Author of "Scientific Wealth Strategies" at http://www.wealthscientist.com Find more information at http://www.401kinfo4u.com
MORE RESOURCES:
Wealth-Building - Google News |
|
|
|
RELATED ARTICLES
Get Rich Slowly Is it hard to get rich? If you're young, not really.Its fun to play with financial calculators and see what might happen. High Flying Market Makes Good Buys Hard to Find AS THE MARKET FLIES HIGHER, GOOD BUYS ARE BECOMING HARDER AND HARDER TO FIND.Market activity is almost beginning to resemble the jumpy behavior typical of internet stocks in late '99, when they were at their most frothy. Want Money? You Got It! Six out of six people who were asked to list their highest priority in life said, "I want money". Maybe not in those exact words, but that was the gist of the request. The 11 Best Money Saving Ideas of All Time - Part 2 At any time in history, no matter what the current state of the economy, no matter what the current trends, no matter what the unemployment rate is or where interest rates lurk, some money-saving ideas stay true.Some of you may have heard of these ideas before, others may be entirely new to you. The Top 10 Steps to Becoming a Millionaire There is perhaps no more important decision than to take charge of your own financial future. We live in a world of opportunity, and yet most Americans are buried in credit card and other debt. Learn How to Bank Like a Banker The business of banking has changed dramatically over the last decade. Because the cost of doing business the old-fashioned way is no longer effective, banks are interested in changing their customers' behavior by encouraging electronic banking alternatives whenever possible. Get Rich Doing What Others Dont "The quickest way to wealthThat I've found to be true;Is to stick out your chestGive your bestAnd do what others don't like to do!" - PrimmIt's been said the difference between the "haves" and the "have-nots" - can be traced back to the people who did .. Money Mastery Money can be your servant or it can be your master. The choice is yours to make. Financial Freedom, Is It Only A Dream or Just Steps Away? Almost all of us go to work everyday and do the same routine over and over again. We work so hard until we caught up in the routines for years. 5 Simple Steps for Serious Saving and Financial Growth 1) Pay off your loan, credit and store card debt and resist the temptation to keep on spending money you don't yet have.Credit cards and store cards attract the highest rates of interest and are the most inefficient way to work your finances. Who Wants To Be A Millionaire? Steve Martin once delivered an opening monologue for Saturday Night Live in which he answered the age-old question "How can I be a millionaire?" His answer was fairly simple and straightforward, "First? get a million dollars." If at this point you can't help but feel that Mr. Do You Want To Save Money Easily? Living on credit is fashionable. Indulging oneself is fashionable. The Predicament of the Newly Rich They are the object of thinly disguised envy. They are the raw materials of vulgar jokes and the targets of popular aggression. Wealth Creation and Mortgage Planning - Two Great Tastes that Taste Great Together What if I were to tell you that almost everything you have been told about what to do with your home has been absolutely wrong and that one of the worst ways to build wealth is through your home? And what if I further went on to show you that anyone who perpetuates this myth probably is not your best source for accurate financial information?Most of you right now are looking at the byline a couple of times to see if this article is REALLY being written by a mortgage person. Some of you have taken this as final, unequivocal proof that all mortgage people really do sit around a big table of tea cups wearing hats with fractions on them! No you are not in Wonderland but if you keep reading you might find many of you have been for a long time now. Build Wealth From Home As you sit in traffic, inching along between irate drivers, you think to yourself, "there must be a better way." You get to work, you endure another tirade from an incompetent boss, and you think, "there must be a better way. Business After The Iraqi War The rewarding of high compensation packages to top executives who turned over weak quarterly earnings, or who were involved in corporate scandals, adversely affected short-term investing, and collectively contributed to the downturn of the global economy over the last couple of years. Even the help and expertise of Federal Reserve Chairman Alan Greenspan and several notable Nobel Prize winning economists in the President's Council of Economic Advisers, wasn't enough to revive the economy. Personal Finance Rules to Building Wealth Key 1 Pay your self firstkey 2 Saving is not a punishment. Its making choices about how you'll use your money. How To Be A Millionaire - The Top Secret Of Wealth Creation Have you any idea how many people search Google every single day for terms such as, "make fast money" or "get rich quick"?Intelligent, motivated people, just like you and me? It's veritably FRIGHTENING.Some do it for a laugh. Turbocharged Financial Planning Financial planning is an ongoing process individuals and businesses should implement by organizing all aspects of their finances. This will assist in identifying financial goals, providing a comprehensive written Financial Plan, and implementing the plan in accordance with the objectives that are most important to you. Principles to Ensure a Fantastic Financial Finish Most people want to get to the end of their lives and be able to live comfortably, take care of themselves and leave something for their children. These are admirable goals and very achievable - especially if you have a good plan! While I am not giving specific financial advice, these are the principles I live by and believe can bring anyone to a fantastic financial finish! As always, check with a financial consultant before taking action.
|
| home | site map |
| © 2006 |
