Retirement Plans

In today’s ever changing world, retirement planning is one of the most important aspects of your overall financial plan. Yet, many people do not realize the importance of starting early. People do not plan to fail. Rather, people just fail to plan!

Richard C Ahern Insurance, LLC and our affiliates can assist you with a variety of plans and tools designed to maximize your retirement planning.

Retirement Plan Basics:

What is a 401(k) plan? A 401(k) plan is a type of employer sponsored retirement savings program that allows employees to make pre-tax contributions into their account. From the employee's perspective, since the plan is funded with pre-tax dollars that compound tax-deferred, a significant tax advantage can be realized and a substantial retirement account can be built. There are limits to how much an employee can contribute. However, starting early in your career is a sure way to help you achieve your financial goals.

In addition to offering employees the chance to save their own money, some corporations will also choose to make contributions on behalf of their employees. Regardless of an employer match, employees should contribute as much as their budget allows.

There are advantages and disadvantages to 401(k) plans so be sure to speak with a financial professional to ensure you fully understand how these plans work.