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Top 3 Tips to Max Out Your Retirement Fund in 2018

December 18th, 2017 8:48 AM by Sharon Mason

Top 3 Tips to Max Out Your Retirement Fund in 2018 

The holidays are here and believe it or not, 2018 is just around the corner. Which makes now the perfect time to start planning your retirement plans for the New Year and take full advantage of the tax breaks and 401k match your retirement account provides. Here are the top 3 tips to max out your retirement fund in 2018.

1.) 401K Match: One great way to max out your retirement account fund is to get a 401K match. If you can’t max out your 401k, aim to save at least enough to get a 401k match which could be anywhere to fifty cents to a dollar from your employer for every dollar you contribute.

2.) Utilize Direct Deposit: Contributions to your 401k retirement account are typically withheld from your paycheck before you spend them. Direct deposit is the best and fastest way to fund your account and reduces the temptation to skip making a deposit.

3.) Avoid Penalties: Want access to your retirement funds quickly? Don’t act too fast. There are penalties if you take money out of your 401k account too soon or even too late. You’ll be charged a ten percent penalty for withdrawing early (before the age of 55) and there’s a fifty percent penalty if you fail to take the required minimal distribution after age 70.

Ready to retire in 2018? Are you looking for an Arizona retirement community to enjoy your golden years? Contact me today! As your Local Retirement Expert, I’ll ensure a high-quality, smooth real estate experience regardless of the situation and help you find the retirement home of your dreams!

Sharon Mason
RE/MAX Professionals
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