*Scared to open your 401K statement?
Financial Stress
*Don’t think you will ever recover from the losses?
*Too many investment choices and don’t know how to evaluate?
This ebook will help you open your statement, figure out your 401k contribution limits and gain confidence-knowing that your money is working for you- in your time frame, with your risk tolerance, and with the return you need to meet your goals.
You deserve to have confidence in choosing and maintaining the most valuable investment you own-your 401K plan.
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Technorati Tags: 401k Contribution Limits, 401k maximum
To get the 401k maximum balance you must have the right asset allocation. Asset allocation is the process of diversifying your positions across asset sectors and styles. A common mistake is for consumers to think of their 401K as a separate portfolio. Not so! When doing an asset allocation you need to consider all your position in your 401K, brokerage account, IRA, Roth IRAs, etc. This basically makes it very hard for the common person to do without some sort of tool.
When I interviewed Christine Benz of Morningstar (click here for the audio file), she mentioned the Instant X-Ray tool that is provided for free from Morningstar. I have been playing around with it and I like it. I want to show you an example of how to use it so become a subscriber to my newsletter and I will be sending out a example of how to use this great tool to get the 401K maximum balance.
Technorati Tags: 401K, 401k maximum, asset allocation, roth IRA
Make the most of what you have to make the most of your tomorrow. 
Your 401K contributions are your first investment dollars. Those dollars will grow more faster than any other investment because of the tax advantages that we discuss in detail here. Take advantage of the opportunity to contribute and put the maximum amount that you are allowed in the plan. Your future depends on it.
Technorati Tags: 401K, 401k contributions, better tomorrow, contribute, discuss, dollar, first investment, grow more, investments, tax advantage, tomorrow
2010 401K maximum contribution limits are $16,500 ($22,000 if age 50 and over) Surprised? Yes, you read right. They are the same as last year.
Usually the contribution limits increase with the rate of inflation. The formula is based on the inflation rate in the third quarter vs. the previous year’s quarter which would have made the limits go down. But since few Americans are actually saving the maximum allowable per year, the powers that be said to keep it the same.
401K contribution limits for 2010 are $16,500 for employees. Employer contributions are limited to 6% of the employee’s pre-tax compensation under the 401k rules. If you are 50 and older, you can contribute an addition $5,500 for a total of $22,000.
For example, if you earned $100,000, you could contribute a maximum of $16,500 in 2010 before taxes and your employer could contribute up to another $6,000 for a total of $22,500 in money going into your 401K. Those are the 401K limits for people under 50.
Let’s assume that you are over the age of 50. You could contribute the maximum of $16,500 plus an additional $5,500 bringing the total of $22,000 contributed on a pre-tax basis according to the 401k rules. If your employer also contributed the maximum of $6,000, you could have a total of $28,000 put into your account in one year. Those are the 401K limits for people over 50.
