Saturday, January 12, 2008

Kiplinger’s: Tips for Retiring Rich: A Guest Post

This guest post about retiring rich arrived from Kiplinger's. Check out the bottom which has a link to free financial planning services. Here's the guest post:

"The February issue of Kiplinger’s Personal Finance magazine outlines six simple ways to make it happen—whether you’re starting your career or planning your exit. With automatic enrollment in 401(k) plans and one-stop investment options, saving for retirement is a cinch. Kiplinger’s offers Six Tips to Retire Rich, including:

§ Sign up. More than one-third of large companies now offer an automatic 401(k)—up from just 19% in 2005. While you can back out of your company’s auto enrollment plan within the first 90 days, consider this: Nearly 95% of surveyed adults found that auto 401(k) plans make saving for retirement easier.

§ Check your progress. About 40% of employers offer investment-advisory services to 401(k) plan participants. If available, take advantage of professional one-on-one financial counseling to make sure you’re financial goals are on track.

§ Sell company stock. Many employers use their stock to match 401(k) contributions, but individual stocks can be much more volatile than mutual funds. Under federal law, businesses must allow workers to cash out their company stock within three years—so sell off those shares to diversify your 401(k).

§ Roll it over. When you switch jobs, you’re best off consolidating your savings in a rollover IRA. Skip cashing out your 401(k), which could cost you as much as half of your account balance with tax and penalties.

So are your retirement plans on track? Consumers will have two golden opportunities to find out this month. For the seventh time, Kiplinger’s is teaming up with the National Association of Personal Financial Advisors (NAPFA) to sponsor Jump-Start Your Retirement Planning Days. On Tuesday, January 15th and Friday, January 25th from 9 a.m. to 6 p.m. Eastern Time, NAPFA advisors, who normally charge clients $150 to $300 an hour, will be standing by to answer retirement planning questions—free of charge. Consumers can dial toll-free 888-919-2345 or log on to to participate in an online discussion with an advisor."
Source: Kiplinger’s Personal Finance


No comments: