Top Five Reasons to Enroll in your 401(k) Plan Today!
1. GET PREPARED!
Retirement is life without a paycheck. Are you ready? At best, social security will meet only about 38% of your retirement income needs. The savings you accumulate during your working years needs to make up the other 60+%. By making contributions to your retirement plan each pay period, you start preparing for the day when you will no longer receive a regular paycheck.
2. Less Taxes!
Contributions to your retirement plan can be made on a pre-tax basis. If you are in a 20% tax bracket, for example, then it may only cost you $80 to contribute $100 to your account. Why? Your $100 contribution reduces your taxable income by $100, saving you $20 in taxes! Earnings also accumulate in your retirement plan on a tax-deferred basis, which means your earnings don’t get taxed until you retire. By contrast, in regular brokerage accounts, your taxable income increases by any gains you realize.
3. It’s Easy!
Left to our own devices, many of us find that we never really get around to saving. Saving in your retirement plan is easy! Once you enroll, contributions are made automatically with each paycheck. Your contributions will also automatically adjust as your salary changes, making sure that your savings plan adjusts as your circumstances change. Just set your contribution percentage and forget it!
4. Great Investment Choices!
Your Plan’s investment menu provides you with a diversified list of excellent, low-cost investment options that have been pre-screened by investment professionals. By selecting a mix of equities, bonds, and cash equivalents, you can create an asset allocation that is right for you.
5. It’s There if You Need it!
Most retirement savings plans provide a means to access your account if you need your savings balance prior to retirement. Through a loan or hardship withdrawal, you can be sure that your funds will be available when you need them.
Enroll today!
Call our Customer Service Center at 904.273.5220 to speak to an enrollment specialist or enroll online at https://myplanconnection.com. If you have never logged in before, your user id is your social security number and your password is the last four digits of your social security number.
Any tax advice contained in this communication (including any attachments) is neither intended nor written to be used, and cannot be used, to avoid penalties under the Internal Revenue Code or to promote, market or recommend to anyone a transaction or matter addressed herein. BlueStar Retirement Services, Inc. This bulletin is published as a general informational source. This information is general in nature and is not intended to constitute legal advice in any particular matter. BlueStar Retirement Services, Inc. does not warrant and is not responsible for errors or omissions in the content of this report.