Contributing to a 401(k) or other employee-sponsored retirement plan, opening an IRA and rebalancing one’s investment portfolio regularly are but three ways in which investors can ring in National Save for Retirement Week, says Gary Ozak, an Edward Jones financial advisor..
National Save for Retirement Week runs October 18 through 24. The event is designed to promote the benefits of saving for retirement and to encourage workers to take full advantage of their employer-sponsored retirement plans.
During National Save for Retirement Week, and throughout the year, Edward Jones offers the following advice:
|·||Contribute as much as you can afford to a 401(k) or other tax-advantaged employer-sponsored plan such as a 403(b) or 457(b). Spread your 401(k) dollars among the available investments in a way that reflects your risk tolerance and time horizon.|
|·||Open and contribute regularly to an IRA. A traditional IRA can grow on a tax-deferred basis, and a Roth IRA grows tax-free, provided you’ve had your account for at least five years and don’t begin taking withdrawals until you’re 59-1/2.|
|·||Rebalance your investment portfolio regularly.|
Investors concerned about their financial prospects during retirement are not alone. The Employee Benefit Research Institute’s 2013 Retirement Confidence Survey found:
|·||49% of those surveyed said they are not confident about being able to afford a comfortable retirement.|
|·||Just 46% of survey respondents say they and/or their spouse have even tried to calculate how much money they will need to live comfortably in retirement.|
Edward Jones, a Fortune 500 company, provides financial services for individual investors in the United States and, through its affiliate, in Canada. Every aspect of the firm’s business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work. The firm’s 14,000-plus financial advisors work directly with nearly 7 million clients. Edward Jones, which ranked No. 6 on FORTUNE magazine’s 100 Best Companies to Work For in 2015, is headquartered in St. Louis. FORTUNE and Time Inc. are not affiliated with and do not endorse products or services of Edward Jones. The Edward Jones website is located at www.edwardjones.com, and its recruiting website is www.careers.edwardjones.com. Member SIPC.