Spring Forward… Money Management Tips – Day 23
Employer retirement plans (e.g., 401(k)s, 403(b)s) are a good place to save. Contributions are deductible on federal income tax returns (e.g., a worker with a $32,000 salary who makes a $2,000 contribution pays federal tax on $30,000). There is also tax-deferred growth of principal and investment earnings. For more saving information, visit the America Saves Web site at http://bit.ly/fHbGQy.
For more information or to comment on this blog, contact:
- deborah.killam@maine.edu