05.14.2009
by Jay Peroni
Here is a brief look at IRAs – the Roth IRA and the Traditional IRA…
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05.14.2009
by Jay Peroni
Many people have a 401(k) retirement savings plan, which works like this: The plan is funded with pretax dollars taken out of your paycheck (through payroll deductions). … Let’s say you put $2,400 annually in a 401(k) starting at age thirty, and, for the sake of example, let’s assume you get an 8 percent annual return. … As stated above, you can put up to $15,500 into a 401(k) in 2008, and if you are age fifty or older, you are allowed up to an additional $5,000 in “catch-up” contributions.
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