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How can I maximize my 401(k)?

Jan 18, 2012 by Adam from Miami, FL in  |  Flag
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"Maximize" is a very broad question. The first issue is to find out how much or if your employer is going to match your contributions. If it is 6%, for example, it's the equivelent of 100% return on your investment immediately!. Check out the vesting program for the company, as you may have to be at the company for a certain number of years to have access to it. If you leave early, you may forfeit all or a part of your employers contributions, but be sure, your contributions are always your own. The limit you can contribute for 2012 from your earned wages is $17,000. As far as how to invest it, I suggest you consult with your investment advisor or Certified Financial Planner(tm) to develop a plan appropriate to your risk tolerence and other factors. Good Luck, and save, save save!

Comment   |  Flag   |  Jan 19, 2012 from Suffern, NY

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By contributing the maximum allowable based on your age and sticking to an asset allocation. See you if your plan also offers rebalancing options.

Comment   |  Flag   |  Jan 19, 2012 from Boston, MA

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