Understanding Your 401(k) Plan Paul C. Spoelstra, CFP®, AIF® Milestone Wealth Management...
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Understanding Your 401(k) Plan Paul C. Spoelstra, CFP®, AIF® Milestone Wealth Management Securities and advisory services offered by Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. This material is provided for general informational purposes only and does not constitute either tax or legal advice. 1345 Monroe NW | Suite 323 | Grand Rapids, MI 49505 616.642.9595 | 616.710.4263 fax
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Understanding Your 401(k) Plan 2 Your retirement vision »Travel »Time with family »A new career »Volunteer opportunities »What’s yours?
Transcript of Understanding Your 401(k) Plan Paul C. Spoelstra, CFP®, AIF® Milestone Wealth Management...
Understanding Your 401(k) Plan
Paul C. Spoelstra, CFP®, AIF®Milestone Wealth Management
Securities and advisory services offered by Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. This material is provided for general informational purposes only and does not constitute either tax or legal advice.
1345 Monroe NW | Suite 323 | Grand Rapids, MI 49505616.642.9595 | 616.710.4263 fax
Understanding Your 401(k) Plan
Potential Benefits of a 401(k) Plan
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» Ease and convenience» Tax advantages» Investment choices» Disciplined savings» Tax-deferred contributions—
which means you don’t pay taxes until you take a qualified withdrawal
Understanding Your 401(k) Plan
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Your retirement vision» Travel» Time with family» A new career» Volunteer opportunities» What’s yours?
Make the most of your 401(k) plan:
» Set your savings goal and enroll right away
» If you’re already enrolled, save more» Make catch-up contributions if you’re
over 50» Review your investment allocation
(now and annually) and make changes as needed
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Understanding Your 401(k) Plan
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Where can I find the money?By eliminating these items and saving the money in your 401(k) instead, you could gain this much after 25 years:
Understanding Your 401(k) Plan
Item How Often Monthly Expense
Value if Invested for 25 Years
Coffee & Bagel Twice a week $20 $19,147
Dinner Out Once a week $100 $95,737
Vending Soda 3 times a Week $12 $11,488
Assumes an investment in a tax-deferred retirement account in which you hypothetically earn an average annual rate of return equivalent to 8% compounded monthly.
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Understanding Your 401(k) Plan
Investors should consider the investment objectives, risks, and charges and expenses of the investment company carefully before investing.
The prospectus contains this and other information about the investment company. You can obtain a prospectus from your financial representative. Read the prospectus carefully before investing.
Questions?
Contact Paul: 616.642.9595 or email: [email protected]
