401K Plan PitfallsThere are some specific 401k plan pitfalls that you should know about when making your retirement decisions: * There are limits to the amount one can put in. * Your employer can only match so much (small percentage). * There are penalties for early withdrawals (401k withdrawal rules). * There are certain 401k withdrawal exceptions. * You are in charge of the profit your account makes. Now, let's take a closer look at that last step... The ability of your investments to make or lose money is totally in your hands. You are given the reigns on where your money goes and when (to a degree). You are given a choice of funds to invest in. You are provided with regular information about their performance. You are given time periods of when you can switch funds, etc. This leads to micro-managing your investment in a way. "The better you watch over your 401k, the better it can perform." This can be free when your investments do well. This can also be not-so-free when your investments do poorly. There are people who do lose on their 401k program. In other words, one's total amount can actually go down from the prior year. Two employees in the same program can have different results. One can gain while the other loses, in the same year. However, please understand that the 401k benefits are excellent for those who keep a close eye on their funds. But not everyone has the time, know-how, or desire... Safe Guaranteed Income Program What about a safe, guaranteed income program? What if you can decide on the percentage amount now, and go on with your life? An annuity has significant benefts to your retirement financial planning. For example:
Let our retirement financial advisor review your scenario and let you know your options... Get a free annuity quote - let us help guide you through the options to make the best choices for you! Or, get a free consultation from a Certified Financial Planner to go over your plans to help you make the best decision for your needs. That will help you with your 401K plans!"You'll be glad you did the right thing." Return to 401K Planning Return from 401K Plan Pitfalls, to Annuities Financial Planning
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