Archive - June 2, 2011

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7 Ways To Get the Most Out of Your 401k
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Don’t Look Now, But You Got a 2% Raise This Year!

7 Ways To Get the Most Out of Your 401k

If you’re like most Americans, you don’t have enough saved in your 401(k)or 403(b) plan to cover more than a few years of retirement expenses. Average retirement plan balances typically are no more than 1 or 2 years times average annual income….woefully inadequate to cover a 25+ year retirement period. Social security was never seen as something that could plug the hole left by insufficient 401(k) or 403(b) plan balances.

However, the 401(k) and 403(b)retirement landscape is rapidly changing so it’s not too late to squeeze more juice out of your 401(k) or 403(b) plan. Here are some steps to …

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Don’t Look Now, But You Got a 2% Raise This Year!

Did you realize you received a two percent raise in January? How can this be? You say your boss would never give you a raise. Well this take home pay increase didn’t come from your boss…..it came from the federal government.

In Late December of 2010, President Obama signed into law a two percent reduction in the OASDI payroll tax. Old Age, Surviors and Disability Income tax, better known as Social Security tax, is withheld from your paycheck up to the maximum yearly limit. The 2011 limit is set at $106,800.  The change reduces the amount of tax withheld from …

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