Layered savings
1 rating since posting on Monday, February 7, 2005|
in Everywhere
(submitted by
Flaming
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Overall Rating based on 1 rating |
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Financial people will alwaus tell you about a "diversified portfolio". Depending on your savings needs (long vs. short term) yuo will probably want to invest in multiple accounts. The money market pengrin sugguested is a great way to save money on a short term,penalty free for an emergency fund or specific purchace. Since the 401k savings comes out of your check before taxes, you will probably notice only a tiny decrease in net pay while saving for RETIREMENT (you'll need it with the present state of the SS administration) with tax advantages. Even if you have to roll it into a traditional IRA later, it is important to start saving for retirement. I would save as much cash as possible in the money market and invest 1%-5% in the 401k. - Flaming , posted 02/07/05 |
