IF YOUR EMPLOYER OFFERS a 401(k) plan, it’s your primary ticket to a comfortable, secure retirement. There are limits on how much you can contribute, but they’re generous. In 2022, you can save up to $20,500 in your 401(k) plan, up from $19,500 in 2021. (Workers age 50 or older can put in an additional $6,500.) And contributions are deducted from taxable income, so you get even more bang from your bucks.
When you’re just starting out, maxing out your contribution can be a challenge. The general rule of thumb when it comes to saving in your 401(k) is to try to contribute 12% to 15% of your gross income. If that’s too much, resolve to put in at least enough to qualify for your company’s matching contributions.
Esta historia es de la edición January 2022 de Kiplinger's Personal Finance.
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Esta historia es de la edición January 2022 de Kiplinger's Personal Finance.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
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FREE HELP FOR COLLEGEBOUND STUDENTS
This program’s mentors assist applicants as they fill out the FAFSA, write essays and more.
WHAT YOU SHOULD KNOW ABOUT SPOUSAL IRAS
You typically need earned income to contribute to an individual retirement account, but a spousal IRA provides an important exception to this rule.
SELLING SHARES? HERE'S HOW TO MINIMIZE TAXES ON YOUR GAINS
ET'S say you've been regularly buying shares in a booming tech company over the past few years, but now you want to start taking some of those profits, perhaps to rebalance your portfolio.
Strategies for Novice Investors
AS part of a lifes kills program for young, single mothers, I was asked to teach a class on how to get on top of your finances.
ANSWERS TO YOUR 529 PLAN QUESTIONS
Thanks to recent policy changes, families have more options for what to do with money sitting in these tax-advantaged accounts.
Rate-Cut Winners and Losers
NOW that the Federal Reserve has cracked the interest rate ice, the next development will be to separate winners from losers.
SHOULD YOU BUY THESE RED-HOT FUNDS?
Covered-call ETFs are popular but come with plenty of caveats.
DIVIDEND STOCKS ARE READY TO REBOUND
Our favorite dividend payers are poised to benefit as falling interest rates lure investors back.
IS A 55+ COMMUNITY RIGHT FOR YOU?
These age-restricted developments appeal to older adults seeking abundant amenities and an active lifestyle.
AT LONG LAST, RATES ARE DROPPING
Consider these portfolio moves now that the Federal Reserve has cut its benchmark interest rate.
