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How To Secure A Happy Retirement With 401k Plan

Are getting low and hopeless about your retirement? you may have lack of information and understanding for retirement saving plans.Here you get some of the easy ways to make job done.Here you come across some amazing study reports which would guide you while planning for your retirement.These statistics and calculation would be helpful in planning in the right way and securing your life after retirement happy and worry-free.The studies- # a well organized study suggests that by 35 years of age, your saving must be equal to your annual salary.Just after 10 years (i.E.At 45 years of age), you saving amount has be to thrice of the amount of your annual salary.Further, when you are 55 years of age, accumulate times of your annual salary in your saving account.This way by the time of your retirement your saving would naturally go as much as eight times of your annual salary.To understand this study better, you must assume that your salary would rise steadily along the way.# another study shows off that by 65 years of age you can save altogether ten times of your salary which in reality very aggressive and hard to achieve.# a famous approach says that teens should begin to save at least 8% of their annual earning.In this way, the saving rate goes up to 30% by 35 years of age.This study assumes that at the age of 15, a teen starts his saving 8% of your annual income.Among the three studies presented here, the last one sounds better than it appears.It shows the way to save more money for future while living on less money.This is one of the right ways to secure your retirement.The solution- with 401k plan, you can open an account as soon as you get employed and save up to $17,000 per annum.This 401k limits are revised every years by the irs.Considering the inflation into account, this amount has been revised from $16,500 to $17,000 in 2012.It gives you the perfect way to save as much as you can for the rest part of your life."catch up" contribution provides you the tool to contribute more in order to get better retirement facilities.If you are 50 years of age, the catch-up contribution is now $5,500.It means that a citizen of 50 years of age or more can now contribute up to $22,500.Tax-exemption facility up to $6,000 is there.The total amount of your saving would be there for you.You can have a happy life even after your retirement with such monetary security.401k contribution limits open up opportunity in order to provide you the safest retirement investment.Open an account today after consulting the best service provider and plan your retirement.To conclude- the reasons behind getting depressed while thinking about retirement are many.But, once you get a better plan like 401k, your retirement would be fool-proof, infallible and would offer your mental peace.Get started today and shaking off all your worries, get your retirement planned.

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