What are 401k plans and how do they effect short and long term retirement plans?
A 401(k) Plan is a cash or deferred pay plan that some companies offer their employees if the company has a profit sharing or stock bonus plan. In a 401(k) plan, employees are given the opportunity to invest in additional tax sheltered pay.
Contributions to the 401(k) plan generally takes the form of salary reduction deferrals although the company may offer to contribute to a 401(k) plan trust account if the employee agrees not to take a salary increase.
Under the salary reduction agreement, the employee elects to contribute a specified amount of pay to the 401(k) plan instead of receiving the wages as regular salary. The contribution under the salary deduction agreement is treated as a contribution by the employer that is not taxable if the annual contribution limits are not exceeded. As a result of the elective salary deferrals, the employee is allowed to defer tax on that portion of salary and get a tax free buildup of earnings within the 401(k) account.
There are limits placed on the amount of salary that an employee can contribute to the elective deferrals account that are not subject to income tax withholdings but are subject to Social Security and Medicare withholdings. Under the 401(k) plan, laws govern the........
"It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities."
11 Things You Can Do To Protect Your Social Security Number.
Don't give out your social security number unless you know that it going to be safeguarded by the person or company you are giving it to.
Your social security number is vital to everything you hold near and dear. It should be protected as though it is a top secret government document. No one should be allowed access to it unless you are absolutely sure that they will not use it for illicit purposes.
In other words, your social security number should be your top secret. It is the path to your credit history, credit cards, personal and legal information, and your bank accounts. With it, a identity thief can take control of your life and do such harm that it could cost you tens of thousands of dollars and take years to repair.
Once you are given a social security card, the number on it is yours to use when needed. Throughout your life, you will be required to give it out for one reason or another. It is very important that you keep it safe. It should be locked away or kept in a secure location.
Children are particularly vulnerable, especially babies. An identity thief can take your child's social security number and use it for years before anyone catches on. By then, the damage is done and someone, probably the parents, will have to undo the mess.
But it's not just children who are preyed upon. The elderly are also at a greater risk of having their social security number. Con artists and identity thieves often target the elderly, especially those who are sick and feeble and can't defend themselves. Not everyone is out to take advantage of you by using your social security number for ill gotten gains, but they may inadvertently pass it on to someone who........
The National Basketball Association (NBA)
The National Basketball Association (NBA) is a professional basketball league with franchises located in major metropolitan areas in the United States and Canada. During preseason, games are sometimes played in cities outside North America.
Today, there are 30 teams in the NBA which is divided into two conferences, the east and the west. Each conference has three divisions and each division has........
"Between the optimist and the pessimist, the difference is droll. The optimist sees the doughnut; the pessimist the hole!"
Multiple Streams of Income
How To Generate A Lifetime of Unlimited Wealth!
In "Multiple Streams of Income", bestselling author Robert Allen presents ten revolutionary new methods for generating over $100,000 a year - on a part-time basis, working from your home, using little or none of your own money. For this book, Allen researched hundreds of income-producing opportunities and narrowed them down to ten surefire moneymakers anyone can profit from. This revised edition includes a new chapter on a cutting-edge investing technique.
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Bestselling financial author and mentor Robert Allen has researched hundreds of income-producing opportunities and narrowed them down to 10 surefire moneymakers for the new........