Part 2: Retirement Support

Employer Matching Funds

 I don't like 401K programs unless they come with matching funds. If your fund puts in $1.00 for every $1.00 then I am all for joining the company 401K. If the fund gives no dollars for every dollar that you contribute then I say go with a self directed IRA.  In the case of matching funds for your 401K program, make sure that you are putting enough money into the 401K to maximize the company matching in your account.  

This is very important if you changed jobs in the past few years and you have been automatically enrolled in your new employers 401K program.  

 

Increase Your Savings Rate

 
Make it your goal to increase your savings rate every year. Consider increasing your savings rate at least 1% per year. When you get a raise, consider earmarking half of your raise to your 401K or IRA.

Here is another idea! The above link explains how and why the IUL works better for retirement income than IRA/ 401K/ Pension Plans.

Personally, I rather be in a Roth IRA in Junk Corporate Bonds!