Is retirement still a long way off? This is something that many people are starting to worry about. A 401k planning is one of the best ways to provide yourself with financial security in your old age, so it’s essential to start planning for it now! This article will talk about some of the top reasons you should sign up with a 401(k) today!
It’s Easy to Use
A 401(k) gold rollover retirement plan is one of the easiest and user-friendly retirement plans available. You can quickly sign up for your 401(k) online, and it takes less than five minutes to get started! This ease of use makes signing up for a 401(k) incredibly easy, even if you are busy or don’t have much spare time on your hands.
It’s Tax-Free Savings
Another great reason you should sign up for a 401(k) is that it is tax-free savings. You will not have to pay taxes on the money you contribute, so your savings grow faster than if they were taxed each year. Also, when you withdraw the funds in retirement (presumably after age 59 ½), all withdrawals are tax-free! Yes, you heard that correctly; it’s tax-free.
It’s Flexible
Having flexibility in your savings plan is vital to many people, and signing up for a 401(k) delivers. You can choose between different funds that are tailored toward either short-term or long-term goals like retirement (or even both), making it easy to save the way you want! Besides, it doesn’t have any age or retirement amount limit to prevent your plan from becoming fruition.
It’s High Deductible
The following reason you should sign up for a 401(k) is that it’s a high deductible. This means that you can potentially save more money each year if your employer offers matching, which most do! Plus, the contribution limit is $18000 in 2018 and goes up to $6000 once you turn 50…woohoo!
It’s Online
You can manage your retirement account from the comfort of your own home and via the screen of your smartphone or laptop. This is extremely advantageous, especially during a pandemic, where the government limits human interaction.
You Can Contribute a Lot of Money
Maybe you’re one of those luckier people who have a lot more money than others. If that’s the case, then great! You can contribute up to $54000 in 2018 and earn safe investments with tax benefits. It helps out your company as well since it allows them to save money for their employees.
You Can Contribute a Little Money Too…If You Want to
Even if you have only one dollar, that’s okay! The government allows people with little income to contribute $18000 in 2018 and earn safe investments while gaining tax benefits on it all. That seems like some pretty great incentives because you can buy a lot of things for $18000. So, what are you dilly-dallying for? Sign up today to secure the rewards!